SWIFT, the global messaging network underpinning the world’s interbank transfers, is embarking on live trials with Ripple’s XRP. | Credit: Kayla Bartkowski/Getty Images.
* SWIFT is testing Ripple’s XRP Ledger and Hedera Hashgraph to explore faster, cheaper cross-border payments under the upcoming ISO 20022 standard.
* XRP enables near-instant settlement with minimal fees, addressing the inefficiencies of SWIFT’s current multi-bank system.
* If just 1% of SWIFT’s $150 trillion annual transactions flowed through XRP, it could create $1.5 trillion in demand for the asset.
SWIFT, the global messaging network underpinning the world’s interbank transfers, is embarking on live trials with Ripple’s XRP.
If successful, the move could elevate XRP to a central role in global finance.
The Problem With SWIFT
For decades, SWIFT has been the default system for transmitting payment instructions between banks.
However, the process remains extremely slow and costly. International transfers can take up to five days and incur fees ranging from £20 to £40.
It also lacks transparency, with customers often having little visibility over when funds will arrive.
The amount that ultimately arrives can also shrink as banks along the chain deduct their own charges.
The network’s reliance on multiple banks adds further complexity, as each link in the chain can introduce delays, fees, and the risk of errors.
SWIFT’s XRP and Hashgraph Trials
SWIFT began experimenting with blockchain technology in August as part of efforts to modernize cross-border payments.
The organization launched trials using Ripple’s XRP Ledger and Hedera Hashgraph to test whether they can operate alongside conventional banking systems.
At the center of the project is ISO 20022, a new global messaging standard that will become mandatory across financial institutions from November 2025.
XRP’s Potential
XRP, designed by Ripple more than a decade ago, was created to act as a bridge currency for moving money across borders.
Unlike Bitcoin, which was built as a decentralized alternative to money, or Ethereum, which powers smart contracts and decentralized applications, XRP’s focus has always been on the mechanics of payments.
It promises settlement in seconds with minimal fees, a stark contrast to the delays and charges associated with SWIFT.
This efficiency is what could make XRP stand out in SWIFT’s current trials.
If SWIFT finds a way to link its infrastructure with Ripple’s ledger, XRP could become the asset at the heart of those global transfers.
In practice, this would mean banks and payment providers using XRP as a bridge between currencies, eliminating the need for correspondent banks to handle the conversion.
What Would SWIFT Integration Mean for XRP?
For Ripple, integration with SWIFT would be a breakthrough after years of trying to position XRP as more than just another cryptocurrency.
Over recent years, Ripple has signed partnerships with major financial institutions, including Japan’s SBI, which introduced a Ripple-backed stablecoin, RLUSD.
According to TipRanks , analysts predict that if just 1% of SWIFT’s $150 trillion in annual transactions were transferred using XRP, it could generate $1.5 trillion in demand for the asset.
This would represent a seismic shift in both scale and perception for the digital asset, with XRP’s current daily trading volumes only a fraction of that figure.
CCN’s maximum price prediction for XRP by 2030 was $16.80, although this estimate was made before the potential integration with SWIFT.
Optimistic Outlook
In June, Ripple CEO Brad Garlinghouse stated that the XRP Ledger could capture up to 14% of SWIFT’s global liquidity by 2030.
“SWIFT today has two components — messaging and liquidity,” he said in a panel at XRPL Apex 2025.
“Liquidity is owned by banks. I think less about the messaging and more about liquidity. If you’re driving all the liquidity, it’s good for XRP. So, in five years, I’d say 14%,” Garlinghouse added.
Despite the optimistic outlook, XRP’s service currently remains limited to a small number of financial institutions.
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