SWIFT is developing a blockchain ledger—could the XRP Ledger become central?

crypthub

2 days ago

SWIFT’s New Blockchain Ledger

SWIFT announced it is developing a blockchain‑based ledger to modernize cross‑border payments. The news has triggered speculation that the system may resemble the XRP Ledger, known for fast, low‑cost transactions. SWIFT has not confirmed any partnership with Ripple or use of XRPL technology.

Potential Advantages

A shared, real‑time ledger would let authorized banks view each payment instantly, cutting settlement times from days to seconds. By reducing intermediaries, the model promises lower fees, better liquidity management, and fewer reconciliation errors. Both banks and end‑users could benefit from quicker, more predictable international transfers.

Industry Implications

Details on the ledger’s protocol, architecture, and interoperability remain undisclosed. Nonetheless, the move signals that major financial institutions now view distributed ledger technology as a core infrastructure, not a niche experiment. The sector will watch closely to see whether SWIFT’s system merely mirrors existing networks or introduces new capabilities that reshape global finance.