SWIFT Will Not Launch Crypto Due to This Main Reason Related to Ripple and XRP

SWIFT has quietly made an important decision that shapes its role in the future of digital finance. As payment systems become increasingly complex and diverse, the organization is positioning itself to maintain an essential role, not by dominating new technologies but by adapting to them. Instead of launching a proprietary cryptocurrency, SWIFT has chosen to collaborate with existing digital currency networks. This decision is intentional. By not competing with third-party providers like Ripple, which is linked to the widely used XRP token, SWIFT avoids undermining the very financial technology ecosystem they plan to integrate. This information was recently revealed by cryptocurrency researcher SMQKE (@SMQKEDQG), who shared SWIFT’s views along with a video of a SWIFT official detailing the strategy and direct statements from Stephen Grainger, the regional CEO for the Americas and the UK at SWIFT.

ISO 20022 and Potential Crypto Integration The core of the SWIFT strategy is the ISO 20022 messaging standard, a framework that allows for richer, more structured data in financial transactions. This standard serves as the foundation for connecting over 11,000 SWIFT member organizations with modern payment technologies, including digital currencies. SWIFT has announced November as the deadline for a complete transition to this standard, and Grainger has made it clear that SWIFT is not involved in the issuance or creation of digital assets. This separates SWIFT from entities like Ripple, which use digital currencies like XRP to facilitate payments on distributed ledger networks. SWIFT’s stance is not to deny cryptocurrency. Grainger emphasized that the organization supports interoperability with cryptocurrency-based services through the Global Payment Innovation platform (GPI), stating that, “This does not mean that SWIFT will completely overlook cryptocurrency when it comes to its gpi services.” He added that if banks choose to work with digital assets, “we can support them. Our network can support them, but we do not want to compete in that area with our members”. This is good news for XRP, as Ripple’s payment system complies with ISO 20022, placing XRP in a leading position when SWIFT decides to proceed with blockchain integration. Does Ripple Work With SWIFT? Ripple’s presence in the cross-border finance sector has long been compared to SWIFT. However, currently, the two sides are more likely to converge than collide. By integrating XRP and similar digital assets through ISO 20022 instead of replacing or bypassing them, SWIFT maintains neutrality and avoids the challenges associated with issuing native tokens.