- Swift’s Leibbrandt said the institution would link R3’s platform with its new payments standards framework GPI.
- Leibbrandt was speaking beside Brad Garlinghouse, the chief executive of Ripple, a fierce competitor to R3, at the Paris Fintech Forum on Wednesday.
- Garlinghouse said Ripple was open to “ways we could work with Swift,” but neither company hinted at a partnership between the two in the near-term.
Swift, the financial messaging service for the world’s biggest banks, is partnering with blockchain start-up R3.
Gottfried Leibbrandt, Swift’s chief executive, said the institution would link R3’s platform with its new payments standards framework GPI, or Global Payments Innovation.
“We are announcing later today a proof-of-concept with the R3 blockchain on trade where you can initiate a payment on the trade platform and then it goes into GPI,” Leibbrandt said at a CNBC-moderated panel session at the Paris Fintech Forum on Wednesday.