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Ripple wants to supplant the international Swift network, which is owned by and connects about 11,000 banks.Some speculators are betting that banks will need a lot of XRP oil as a reserve currency, which, if correct, would see XRP loom large in the global financial system. But if banks are unconvinced that they need to own substantial amounts of XRP – which Ripple's systems for sending and processing payments do not require – the now $60bn total market value of circulating XRP coins looks highly speculative.The enterprise software start-up says more than 100 financial institutions have adopted at least one Ripple product.The Financial Times spoke to 16 banks and financial services companies publicly linked to Ripple (two more declined to comment).Kansas-based CBW Bank was one of the first partner banks announced by Ripple in 2014 .Regardless of whether banks use it, Ripple has benefited handsomely from XRP's rise.
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