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Is American Express Secretly Using RippleNet Again?
American Express (Amex) has recently notified its clients of disruptions in wire transfers and cross-border payments, citing a broader upgrade connected to the Federal Reserve System. While this may seem like a standard update at first glance, the cryptocurrency community is quick to draw connections between Amex’s past collaboration with RippleNet and the potential for Ripple’s technology to be powering the rails for American Express’ next-generation payment system.
For those who might have missed it, Ripple (XRP) has a history of partnering with major financial institutions. It partnered with Amex in the US-UK corridor to streamline cross-border transactions, which adds weight to the theory that RippleNet could be secretly powering American Express’s infrastructure upgrade.
Recent rumors about Amex payment delays and wire transfer disruptions have sparked intense speculation within the crypto community. This speculation is fuelled by Amex’s previous partnership with Ripple for these exact services. The buzz has been amplified by prominent influencers such as Versan from Black Swan Capitalist, who believe that blockchain technology could be quietly powering American Express’ modernized payment system.
Despite there being no official confirmation of this involvement, the XRP community remains vigilant and alert. As a result, XRP’s market reaction to this speculation has been modest at best. The token is currently trading at $2.22 with a 2% gain in the last 24 hours.
It is too early to say what American Express’ motivations might be behind any potential partnership with RippleNet. Some believe that this could be Ripple’s quiet re-entry into mainstream finance, possibly backed by one of America’s biggest credit card giants.
Source: coinpedia.org
