<ul><li>Panos Mekras recently highlighted the threat posed to big banks by XRP and Ripple.</li><li>The crypto expert believes that blockchain technology like XRP is outdoing the current global banking system.</li><li>Mekras indicated that Ripple’s troubles including the SEC lawsuit could be prompted by XRP’s threat to traditional finance.</li></ul>Panos Mekras, the founder of DigitalGen Financial Services, recently highlighted how blockchain technology like XRP and Ripple posed a threat to traditional financial institutions. Mekras, a crypto expert who founded several crypto ventures, stated that XRP played a pivotal role in reducing the monopoly of big banks on the global financial landscape.Mekras took to X (formerly Twitter) earlier today to demonstrate how XRP was disrupting the global finance space:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/d3ee52b8053447aa9a6dc08698517c4b.png" />According to Mekras, Ripple’s blockchain products were instrumental in highlighting new use cases for blockchain technology, specifically in the context of global payments. The XRP Ledger (XRPL) was a formidable contender when it came to cross-border settlements, with the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system being arguably the only mainstream alternative.SWIFT leveraged its network of 10,000 financial institutions worldwide to enable overseas payments. However, Mekras told his followers that SWIFT’s dominance in the global payments space had taken a hit thanks to the efficient and cost-effective cross-border settlements demonstrated by XRP. XRP decentralized finance eliminated middlemen and the need for pre-funded liquidity.Read full article at<a href="https://cryptotale.org/crypto-expert-says-xrp-and-ripple-pose-a-threat-to-banking-giants/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Crypto Expert Says XRP And Ripple Pose A Threat To Banking Giants

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