According to a statement by Amonyx, a known voice in the XRP community, XRP has already assumed the role previously held by SWIFT in global finance. The expert noted that all technical systems are now in place, and a formal announcement to mark the shift remains.
Financial institutions have been actively working on blockchain-based solutions to improve cross-border transactions. Deutsche Bank, Goldman Sachs, JP Morgan, and Credit Suisse are working together to develop a standard for blockchain.
Joining the R3CEV consortium shows they are paying more attention to a combined and smoother digital finance system.
At the same time, businesses like SWIFT and Bolero are being challenged by the industry’s move to decentralized approaches. Their job as mediators could be at risk, with blockchain allowing people to make cheaper and faster transactions. The Ripple Labs company has made XRP one of the leading platforms in the virtual currency space.
Ripple’s technology is becoming popular because it improves the process of cross-border payments. Since XRP avoids multiple verifications, settlement happens very quickly. Because of this, banks want to lower the cost of operations and provide better customer service.
SWIFT is dead. #XRP has already taken its place — everything is ready. All that’s left is the announcement.
Know what you’re holding… 💎🙌 pic.twitter.com/PEIZKBNaSb
— Amonyx (@amonbuy) May 17, 2025
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Blockchain Integration in Finance Signals Broader Shift
Infrastructural change within the financial sector is already underway. Banks align themselves with blockchain firms and consortia to remain relevant in a landscape prioritizing speed, security, and transparency.
The consensus is that individual banks cannot develop comprehensive blockchain networks independently, making partnerships essential.
Even though XRP has the potential to replace SWIFT in the industry, they believe it will still take some time for mass use in trade finance. Integrating it into mainstream society may only become realistic after several more years, even if all the technology is ready.
Banks are being urged to update their systems to remain competitive. If financial institutions do not evolve, others could take over markets that have traditionally belonged to them.
The expert has labeled XRP the new SWIFT, adding to the discussion around Ripple’s worldwide role. Even though official confirmation has not arrived, the trend in finance indicates that a big transition is happening.
Also Read: XRP Poised for Takeoff? New Pattern Hints at Major Jump to $3.33
