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Is American Express Secretly Using RippleNet Again?
Recent news has sent shockwaves throughout the crypto community, as reports emerged of payment delays and system upgrades from American Express (Amex), sparking speculation that the credit giant may be secretly utilizing RippleNet once again. While no official confirmation has been made by Amex or Ripple, these developments have many wondering if there is truth to this claim.
For those unfamiliar, Amex has a history with Ripple, having partnered in the past to streamline cross-border transactions. Given their prior collaboration and recent statements from both parties, it’s not hard to understand why people are connecting the dots between these events. The sudden appearance of delays in wire transfers and cross-border payments, along with an upgrade tied to the Federal Reserve System, has led many to believe RippleNet may be behind the scenes.
While this could be simply a coincidence, the timing couldn’t be more propitious. American Express recently announced its most significant upgrade to its Platinum cards since 1990s, including new business perks and flexible payment tools. Furthermore, it launched a partnership with Coinbase to release the Coinbase One Card, offering users an impressive 4% Bitcoin cashback.
Many crypto influencers have also jumped into the fray, supporting these theories by highlighting the broader trend of payment modernization in traditional finance. According to them, Ripple’s infrastructure could be quietly powering this next-generation payment system even if it’s not publicly disclosed.
The ripple effect (pun intended) has been palpable, with XRP prices experiencing a modest 2% increase over the last 24 hours and trading at $2.22.
Despite the speculation, no concrete confirmation has come from either Amex or Ripple. It is still too early to draw conclusions, but as more details are expected in the coming months, some believe this could be Ripple’s quiet re-entry into mainstream finance, backed by one of America’s biggest credit card giants.
Source: coinpedia.org
