Ripple's acquisition of Rail, a company known for its expertise in stablecoins, for $200 million, has garnered significant attention from the XRP community. According to cryptocurrency researcher SMQKE, a screenshot shared online shows SWIFT's Chief Innovation Officer, Tom Zschach, commenting on this deal in a LinkedIn discussion.
The discussion began when Franz Steinbeib wrote about this deal under the title "The End of the B2B Payment Race? Checkmate Ripple $200 Million". In a shared screenshot, Zschach wrote, "Another 'checkmate' moment" before adding that the race is "not over yet" but that the track is "just getting a little more crowded". He is reported to have called this a good move while pointing out that the arbitrators are still considering.
SMQKE's social media post highlighted the importance of this comment, considering SWIFT's central position in the global payments network. This quoted remark quickly became a hot topic of discussion among XRP supporters and industry insiders.
Different Interpretations of Zschach's Reported Statement
User X Nietzbux argues that the quotation marks around the word "checkmate" imply sarcasm, suggesting that Zschach is alluding to a familiar motif where commentators exaggerate the decisive nature of certain developments. In this interpretation, "another 'checkmate'" would be a witty mockery of the repeated claims that the competition is over.
Conversely, Shawn Dejong sees this statement as an acknowledgment that Ripple is taking a series of strategic steps. He also connects this comment to previous events and suggests that the acquisition of Rail could enhance Ripple's capabilities in cross-border transactions and ISO 20022 integration.
For the XRP community, this quoted remark further reinforces the belief that Ripple's actions are being monitored by market giants. Whether sarcastic or serious, this comment intensifies the ongoing competition between Ripple and SWIFT in the high-value payments sector.