CEO of Ripple Reveals How XRP Can Replace SWIFT in Global Payments Forever

Ripple’s CEO Brad Garlinghouse has drawn attention anew in the XRP community after highlighting the growing role of this asset in international payments. His comments, shared by XRP Avenger (@XRP_Avengers), focused on how XRP has addressed key inefficiencies in cross-border remittances. According to Garlinghouse, XRP allows financial institutions to bypass the outdated model of holding pre-funded accounts in multiple countries. He clarifies that SWIFT, along with other traditional systems, requires banks to hold reserves outside of their own countries, which adds to the challenges of transferring money. Ripple’s solution, supported by XRP, eliminates that need by allowing real-time liquidity. He noted that institutions can now access funds instantly thanks to Ripple’s trading pairs with the US dollar and the British pound. According to him, transactions are completed “within seconds”, a significant improvement over the many days or even hours that the old SWIFT network often took. One can send money from one bank to another using Ripple without the need for a third party, reducing costs and making the process faster. In his comments, Garlinghouse pointed out that XRP and Bitcoin are different because XRP is faster and more efficient. Since XRP is processed quickly in three seconds, it is ideal for real-time money transfers globally, unlike Bitcoin. XRP is Positioned to Disrupt Global Banking Systems Ripple’s approach has been supported by its real-world use, as many financial institutions have integrated XRP for liquidity. The company believes that these advantages position XRP as a potential ultimate replacement for SWIFT to become the dominant global payment system. Ripple’s Chairwoman Monica Long added that XRP is significantly more energy-efficient than Bitcoin, supporting banks and payment service providers in using XRP towards sustainability goals. Garlinghouse explained that users will not know that XRP is being used. Everything is done on your behalf without the need to hold the cryptocurrency yourself. The XRP holder community is becoming more confident. Some analysts suggest that Ripple’s successful partnerships and the high speed of this asset could challenge the long-standing role of SWIFT in international finance. As the Ripple network developed, the company focused on making XRP a better and faster alternative to SWIFT. With the support of leaders and users, XRP could become the primary tool for cross-border money transfers.