SWIFT, Ripple (XRP) & BNP Paribas: Connecting The Dots

In a video shared by SWIFT, a bank representative noted that the ledger would allow the institution to integrate “every single settlement route” into its banking offering, helping digital value move through trusted global infrastructure at scale.

SWIFT’s ledger, which moved from concept to live use earlier this year, is designed as an orchestration layer for tokenised deposits. It enables participating banks to support 24/7 cross-border payments while final settlement still occurs through existing systems.

BNP Paribas is among the early adopters that have already completed live transactions on the platform, including a notable corporate treasury payment alongside HSBC for Siemens.

The system aims to give banks greater flexibility for always-on liquidity without requiring clients to change how they bank. By the end of 2026, at least 19 institutions are expected to use the ledger across multiple currencies.

BNP Paribas has long worked with Metaco, a Swiss digital asset custody and tokenisation technology provider. Metaco’s Harmonize platform has been used by major banks, including BNP Paribas Securities Services, for institutional digital asset operations.

Ripple acquired Metaco in 2023 for approximately $250 million. The deal expanded Ripple’s institutional offerings in custody, issuance and settlement of tokenised assets. Metaco continues to operate as an independent brand under Ripple’s ownership.

The combination places a Ripple-owned technology provider inside the digital asset infrastructure of a major SWIFT ledger participant.

While the SWIFT ledger itself currently focuses on bank-issued tokenised deposits rather than public-chain assets like XRP, the overlap illustrates how traditional banking rails and crypto-native infrastructure are increasingly intersecting.

For the XRP community, the connection fuels ongoing discussion about potential future interoperability between regulated banking systems and blockchain networks.

BNP Paribas’s public comments on the SWIFT ledger, paired with its established use of Metaco, keep the conversation around institutional adoption and cross-network settlement active.

As SWIFT continues expanding its ledger and banks deepen their digital asset capabilities, partnerships of this nature will remain closely watched by both traditional finance and crypto markets.

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