Ripple’s integration with SWIFT is theoretically possible and is being discussed in the context of improving global payment systems. XRP, which is used in the Ripple network, has already proven its effectiveness in cross-border payments, offering fast and cheap transfers. SWIFT could benefit from Ripple’s technology to solve the problem of slow and expensive international transactions.

In the past, Ripple has proposed joining forces with SWIFT because their systems can complement each other: SWIFT provides standardization and coverage for traditional financial institutions, while RippleNet with XRP is a technology that makes transactions faster and cheaper. At the same time, XRP can be used as a liquid bridge for currency exchange, reducing the time and cost of making payments.

However, there is no direct partnership between SWIFT and Ripple yet, and SWIFT is rather focusing on integration with blockchains more generally, conducting its own tests with central bank digital currencies (CBDCs). 🤝 ***

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