- At Sibos 2025, SWIFT unveiled its new blockchain-based ledger, calling it a landmark step in modernizing global finance.
- Chainlink Labs praised the move, citing their 7-year partnership helping banks connect to blockchain without abandoning existing systems.
- Ripple supporters dismissed the initiative as SWIFT playing catch-up, arguing XRPL remains a superior solution.
At Sibos 2025, global financial messaging giant SWIFT announced the launch of a new blockchain-based ledger, marking what it called a “landmark moment for the global financial system and blockchain industry.”
The ledger, according to SWIFT, is positioned as a natural extension of its ecosystem innovation and digital asset trials conducted over the past two years.
Chainlink Celebrates Milestone
In response, Chainlink Labs congratulated its long-time partner, praising the move as validation of blockchain and oracle networks in modern finance.
“We congratulate our partner Swift and the broader Swift community on adopting blockchains and oracle networks as a key next step, validating the clear value that blockchain technology and oracle networks bring to modernizing the financial system,” Chainlink wrote.
Also Read: Breaking: SWIFT Launches Global Initiative to Revolutionize Cross-Border Retail Payments
As a landmark moment for the global financial system and blockchain industry alike, Swift announced at Sibos 2025 it is launching a new blockchain-based ledger: https://t.co/lHUHsjoxJE
We congratulate our partner Swift and the broader Swift community on adopting blockchains and… pic.twitter.com/GSqGSYrwGk
— Chainlink (@chainlink) September 29, 2025
The post also highlighted the seven years of collaboration between SWIFT and Chainlink, which have centered on enabling financial institutions to connect to blockchain networks without abandoning existing infrastructure and messaging standards.
Ripple (XRP) Community Reacts
While the announcement drew praise from Chainlink, members of the XRP community expressed skepticism. Some argued that the initiative underscores SWIFT’s struggle to keep pace with Ripple and the XRP Ledger (XRPL) in the cross-border settlement space.
Community member BuzzLight wrote: “7 years of research and no clear solution to counter the Ripple wave, otherwise they would not be attempting a desperate appeal with their ‘Hackenaton.’”
Another XRP supporter, XRPLoaded, added: “Chainlink is a bandaid for SWIFT, and Ripple is Jason Voorhees, and XRPL is the chainsaw.”
Industry Impact
The diverging reactions highlight a familiar divide in the blockchain ecosystem: while SWIFT’s embrace of distributed ledger technology is viewed as a milestone by some, XRP advocates maintain that Ripple’s XRPL remains the more efficient and battle-tested solution for global value transfer.
Whether SWIFT’s new blockchain ledger represents a genuine competitive alternative or a defensive move against the momentum of XRP remains an open question, but the announcement marks a pivotal step in the financial sector’s deepening adoption of blockchain infrastructure.
Also Read: XRP Rich List Update: Here Are the Number of Wallets Controlling the Most and Least XRP
