XRP Update: Specialist Claims Ripple May Overtake SWIFT—Here’s the Significance.

Market analysts have dismissed the idea of collaboration between Ripple and SWIFT. However, there are arguments suggesting that Ripple’s technology could ultimately replace SWIFT. Additionally, there have been numerous rumors and speculations regarding a possible partnership between Ripple Labs and SWIFT circulating within the community. Market expert and trader Arthur has cast doubt on the possibility of a collaboration between Ripple and SWIFT, effectively dismissing the idea of a partnership. The conversations about a potential SWIFT integration intensified after Ripple’s recent purchase of Hidden Road. As previously mentioned, Ripple acquired the prime broker firm for $1.25 billion. This move supports Ripple’s efforts to improve low-cost international payments and tackle the shortcomings of the existing financial system. Image Source: Arthur on X. Nevertheless, Arthur, who is also a supporter of XRP on social media platform X, has pointed out reasons that make a Ripple and SWIFT integration appear unlikely. Initially, he pointed out that Ripple functions as a blockchain company with the goal of transforming the conventional financial system. He stated that Ripple is set up as a more cost-effective, quicker, and more efficient option compared to SWIFT, and thus cannot collaborate with it. Emphasizing the recent acquisition of Hidden Road, Arthur mentioned that it aims to speed up the company’s vision of sovereignty rather than merely connecting it. With the acquisition, Ripple secures entry into conventional finance, which includes clearing, custody, and foreign exchange services, eliminating the need for SWIFT’s involvement. Arthur mentions that due to the existing global geopolitical conflicts, SWIFT has become a means of exerting control, particularly against nations facing sanctions. As a result, nations such as Russia and China are exploring alternative payment systems to SWIFT.