I have not seen any code or white paper of how it scales compared to BTC, but it's supposed to scale much better.

Banks know they cannot compete with crypto currencies both in cost and time to transfer money electronically.

So this is central banks fighting for their financial lives...using similar technology to compete with respect to cost and time. 

IF accepted and adopted by the central banks, we'll probably see BTC/USD surpassed by BTC/KLX on all major BTC exchanges in volume.

And it will probably be the main gateway to move between the crypto economy and the fiat-based economies.

It indeed seems to be like a Ripple specifically between banks, with each bank having its own gateway to the crypto economy.