XRP and SWIFT partnership rumors persist amid speculation

Rumors of a potential partnership between Ripple’s (CRYPTO:XRP) XRP Ledger and SWIFT, the global interbank payment network, have reignited discussions within the cryptocurrency community.

However, these claims remain speculative, with no official confirmation from SWIFT or Ripple.

The speculation gained traction after reports suggested that SWIFT might integrate Ripple’s blockchain technology into its payment infrastructure.

Proponents argue that such a collaboration could revolutionise cross-border payments by leveraging XRP’s speed, low fees, and liquidity management capabilities.

“Ripple’s participation in past interoperability pilot programs and SWIFT’s interest in Distributed Ledger Technology (DLT) are fueling these rumors,” according to crypto influencer John Squire.

Despite these claims, further analysis reveals gaps in the narrative.

For instance, pilot programs involving DLT were conducted by other global banking organisations, not directly by SWIFT.

Additionally, EastNets, a third-party service provider for SWIFT, has explored using Ripple-based messaging solutions.

However, this does not equate to direct XRP integration into SWIFT’s core systems.

The rumors have been amplified by Ripple’s recent developments, including its acquisition of Hidden Road for $1.25 billion and the launch of its stablecoin RLUSD (CRYPTO:RLUSD).

These moves demonstrate Ripple’s growing presence in traditional finance (TradFi), which some interpret as aligning with SWIFT's modernisation efforts under ISO 20022 standards.

However, experts caution that compliance with ISO 20022 does not necessarily indicate collaboration between the two entities.

Adding to the confusion are unverified social media claims and even a hacking incident involving a cryptocurrency news platform that falsely reported an imminent partnership.

While proponents of XRP point out its possible advantages for SWIFT, like quicker transaction speeds and lower fees, detractors contend that these reports are mostly conjectural.

At the time of reporting, the XRP (XRP) price was $2.15.