How SWIFT’s blockchain could challenge Ripple’s grip on payments

Can SWIFT’s blockchain match Ripple’s technological edge? Explore the key challenges it faces and its potential impact on global payments.

SWIFT powers most of the world’s bank transfers through its messaging network, while Ripple uses XRP to make cross-border payments faster and cheaper.

Beyond payments, XRP is also used for remittances and is being explored for tokenized loyalty and DeFi applications, with institutions like SBI Holdings testing integrations.

SWIFT is developing a blockchain-based ledger for real-time payments, interoperable with major networks and supporting tokenized assets.

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