According to external sources, Hussein Zangana, community leader of the XRPL Foundation, has recently publicly called on the XRP community to stop spreading the phrase “Swift will access XRP” and to turn attention back to the actual construction and implementation of XRP Ledger.

The executive publicly denied the Swift narrative.

Zangana stated on the social platform that Swift was not currently using XRP and that there was no need for communities to use such statements to create heat. He also cited Swift, who had, or necessarily had, access to XRP, as critical of some of the accounts, arguing that such content would interfere with the outside world's judgement of the real progress of the XRPL.

The report mentions that this statement was made against the background of the announcement this week by Swift that its system of account books based on block chains could be used on a pilot 24-hour, seven-day, uninterrupted, cross-border monetization payments. After the news was released, the XRP community quickly emerged and a number of posts linked it directly to the XRP.

The debate is on ISO 20022.

Former Swift executive Tom Zschach also responded on social platforms that the information available did not prove that Swift would use XRP. He indicated that more images were being circulated from outside only to indicate that some encryption projects had adopted ISO 20022 reporting standards.

He further noted that ISO 20022 was an open message standard and not unique to Swift. The form of the message is not the same as the settlement of the asset, and Swift, as a news network, does not itself deal with the settlement of the funds, and therefore there is no natural location where the XRP is embedded directly into its structure.

XRPL has recently advanced several functions

Zangana also listed several recent key developments in the XRPL, stating that there were more practical work of concern in the ecology, including security improvements, chain lending, currency stabilization, foreign exchange market capacity, and permit domain functions for compliance transactions.

He also mentioned that XRPL was advancing the work on privacy in the chain and continuously promoting institutional and consumer access. In its view, the focus remains on expanding real use, rather than on recurring rumours of unproven cooperation.

  • It's been mentioned that direction includes security, chain loans and stable currency
  • Compliance trading capability involved
  • The ecological goal remains the adoption of expansion by institutions and users

Ripple Granted European Compliance

It was also mentioned that Ripple had this week obtained a licence from a service provider of encrypted assets approved by the Luxembourg Financial Regulatory Authority, CSF. This permit means that the service of Ripple meets the EU MiCA framework requirements.

According to reports, the Ripple Initiative relies on XRP and RLUSD to provide services to financial institutions, enterprises and business clients in 30 EEA countries. This is also seen as one of the more relevant developments in the recent adoption of the XRP ecology.