Rumors are circulating that the global Swift interbank network could soon integrate the Grand Book XRP of Ripple. However, numerous claims concerning the interest of Swift are highly overestimated.
Although Ripple has managed to integrate its network with several major banking partners for cross -border payments, fast rumors are currently more based on speculation rather than facts. However, if it takes place, collaboration would be a major achievement for the integration of blockchain and tradfi.
Does Swift soon incorporate XRPL?
After the SEC reported the rejection of its long -standing trial against Ripple, the company has increased its objective of integrating its technology owner of the blockchain between the Tradfi institutions.
More recently, Ripple has acquired the World Brokerage Plage Prime Hidden Road for $ 1.25 billion. He also launched his own stablecoin, Rlusd. Given its growing expansion in Tradfi, SWIFT partnership rumors feed again.
“In the past few weeks, several influential votes have underlined a possible Swift announcement. This could be official confirmation that XRP – through Ripple – will be part of the Global Payment Infrastructure of SWIFT, used by more than 11,000 financial institutions worldwide,” said crypto influencer John Squire.
Swift is one of the largest international banking institutions in the world, and it could offer XRP the network of many advantages. Even the treatment of a tiny fraction of the daily volume of Swift would be a huge boost for the network and the Altcoin in terms of income and institutional adoption.
In addition, XRP defenders identified a few ways to help the payment processor in return.
However, some of these claims have encountered a skeptical response from the cryptographic community. Indeed, although it would help Xrp enormously if Swift adopted it, these rumors can only be a case of pious wishes.
John Squire’s argument is based on two key assertions: that Ripple ends his legal fight of the dry, and that Swift has been interested for years.
“In 2023, Ripple has already participated in interoperability pilot programs led by Swift. More recently, Swift published a report on the integration of the technology of the big distributed book (DLT). Ripple was on this list. XRP was part of this conversation,” he said.
Unfortunately, additional research shows that its assertions are blurred or even wrong. Major studies of global asset managers have said that the integration of XRP could benefit Swift, but the institution itself did not participate in these conversations.
Global banking organizations other than Swift have led the above -mentioned interoperability pilot programs.
Dissect rumors
This does not mean that this single account is the source of all rumors of the industry. However, the fact remains that XRP has much more from a partnership than Swift.
Thanks to the lens of pious wishes, many tangentially relevant affirmations may seem to be proof of a future relationship.
For example, Eastnets, a third -party company that obliges SWIFT software, has potentially mentioned integrate some of Ripple’s technologies. This does not reflect any direct link between Swift and XRP, but it has always contributed to the media threshing. Someone could easily understand the subtle distinction.
Swift to ISO 20022’s push, a global standard for financial messaging, has sparked new speculation about the potential role of XRP. Ripple compliance with ISO 20022 positions it as a candidate for integration into modernized payment systems, aligning with the SWIFT objectives.
However, ISO 20022 is a global standard, and Swift has never even mentioned a tangential connection of blockchain during adoption. Two companies deploy the same useful standard, but that does not mean that they work towards each other.
In short, the Swift and XRP Ledger partnership is always a speculative rumor. Such a partnership could be on the cards, but the current facts and the available information is not sufficient evidence.
If Swift were to adopt XRPL, it would be a real step for the integration of crypto with Tradfi. Such an event could even open a new era for the cryptography industry worldwide. However, this does not mean that this will happen soon.
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