IBM is one of the most known competitors of Ripple:
“By using blockchain technology and the Stellar protocol, IBM Blockchain World Wire makes it possible for financial institutions to clear and settle cross-border payments in seconds.”
Could it be that IBM is also working or worked at some point with Ripple, integrating banks on Ripplenet? According to Viral Shah‘s (Solutions Architect at IBM) LinkedIn profile, while at IBM he worked on a POC on a RippleNet blockchain implementation for a Bank (probably in India).
Interestingly (but not necessarily in connection to the Ripplenet implementation mentioned above), he also worked on YONO app, which is the State Bank of India’s (the Indian SBI) digital banking platform.
It is worth mentioning that mr. Shah also currently works at LTI, a company also working with Ripple that helped a leading Indian Bank leverage RippleNet for cross border payments.
This screenshot is from a document from early 2017, which probably means that the Leading Indian Bank they are referring to is either Axis Bank or Yes Bank, two Indian banks that had joined Ripplenet at the time.
Since more proof of a potential link between Ripple and IBM is needed than a LinkedIn profile, we will continue to follow the story and provide any updates if available.