Recently, unverified claims have circulated on social platforms about SWIFT considering integrating XRP into its system. This has sparked discussions and criticism.
Rumors of XRP Integration and Hacking Incident
Unverified rumors suggested that SWIFT is nearing an agreement with Ripple to incorporate XRP into its cross-border payment system. However, it later emerged that the Watcher.Guru account, which initially reported this, was compromised, and the information was posted by hackers.
Community Opinion on Replacing SWIFT
Within the XRP community, there’s ongoing debate about a potential replacement of SWIFT with Ripple’s technologies. Participants suggest that XRP offers faster transactions, lower fees, and better liquidity management. However, this idea remains speculative, with no official confirmation from Ripple or SWIFT.
Challenges and Prospects of a Possible Partnership
Replacing SWIFT with XRP faces challenges, including regulatory issues and the need for broad institutional adoption. Currently, SWIFT remains the primary system for international financial messages, connecting over 11,000 institutions. Even if the partnership is realized, technical and integration hurdles remain.
Although a partnership between Ripple and SWIFT could significantly impact global payments, progress is hindered by regulatory and technical challenges. It could boost XRP's adoption and value, but the ideas remain speculative.
