This SWIFT’s Latest Move Challenges XRP’s Role in Global Payments

For years, advocates of Ripple and XRP have argued that the digital asset could eventually replace or be integrated into the global financial messaging network ￰0￱ expectation took a significant hit this week after SWIFT revealed plans to implement its own blockchain ledger, making it clear that the organization intends to modernize its infrastructure without relying on ￰1￱ Introduces a Blockchain-Based Ledger At its annual conference in Frankfurt, SWIFT announced the development of a blockchain-powered shared ledger designed to enhance cross-border ￰2￱ initiative has gained backing from over 30 major global financial institutions, including JPMorgan, HSBC, Santander, and Deutsche ￰3￱ prototype, developed in collaboration with Consensys, will function as a continuous, real-time record of international ￰4￱ integrating smart contracts, the system aims to automate settlement rules and ensure consistent validation of payments across ￰5￱ project also emphasizes interoperability, seeking to connect existing fiat payment systems with emerging digital asset ￰6￱ CEO Javier Pérez-Tasso described the effort as an important step toward providing financial institutions with a more efficient and future-ready payments infrastructure.

Ripple’s Competing Vision Ripple has long positioned XRP and the XRP Ledger as faster and more cost-effective alternatives to SWIFT’s traditional messaging ￰7￱ company’s executives have repeatedly argued that XRP could handle a significant share of global settlement ￰8￱ this year, Ripple’s Senior Vice President, Eric van Miltenburg, described the company’s technology as a ‘SWIFT-like update. Also, CEO Brad Garlinghouse projected that the XRP Ledger could capture a large portion of SWIFT’s market share within five ￰9￱ new announcement from SWIFT, however, makes such claims increasingly difficult to ￰10￱ building its own blockchain ledger, SWIFT clearly indicates its intentions to remain central to the global payments ecosystem while retaining control over its ￰11￱ are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Industry and Community Response The development sparked strong reactions within the cryptocurrency ￰12￱ of the Chainlink ecosystem, which already collaborates with SWIFT, highlighted the implications for XRP ￰13￱ community representative Zach Rynes argued that the announcement undermines the narrative that XRP would serve as the primary settlement layer for banks and other ￰14￱ commentators pointed out that XRP supporters have long believed large financial institutions would adopt external blockchains like ￰15￱ argued that these expectations overlooked the possibility that established institutions would instead develop their own solutions or collaborate with others, thereby maintaining control over market infrastructure.

SWIFT’s decision to pursue a blockchain-enabled ledger marks a key moment in the evolution of cross-border ￰16￱ of using external networks like XRPL, global banks seem to be focusing on upgrading their current systems to make them compatible with digital ￰17￱ development poses a significant challenge to XRP’s long-held narrative that it would replace or complement ￰18￱ : This content is meant to inform and should not be considered financial ￰19￱ views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s ￰20￱ are urged to do in-depth research before making any investment ￰21￱ action taken by the reader is strictly at their own ￰22￱ Tabloid is not responsible for any financial ￰23￱ us on Twitter , Facebook , Telegram , and Google News