Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
SWIFT CIO questions Ripple and XRP’s readiness for global banking standards

SWIFT CIO questions Ripple and XRP’s readiness for global banking standards

CryptoSlateCryptoSlate2025/09/04 14:21
By:Oluwapelumi Adejumo

SWIFT’s Chief Innovation Officer, Tom Zschach, has raised doubts about whether Ripple’s technology and the XRP token can meet the standards global banks demand for cross-border settlement.

His remarks, posted on LinkedIn, sparked renewed debate within the XRP community, which has long positioned Ripple as a challenger to SWIFT’s dominance.

Zschach said some observers view XRP as a natural bridge for payments, but he questioned whether banks will ever be comfortable outsourcing settlement finality to an external token.

According to him:

“The harder question is whether banks will ever be comfortable outsourcing settlement finality to a token that isn’t a deposit, isn’t regulated money and doesn’t sit on their balance sheet. Liquidity is one thing; legal enforceability is another.”

He added that if tokenized deposits and regulated stablecoins achieve scale, banks may see little reason to pay a “toll” to an external asset like XRP when they can settle in instruments they already issue and trust.

Public blockchains

In a separate post, Zschach expanded on the broader role of blockchains in finance. He argued that the debate over decentralization often distracts from the real issue of whether a system aligns with institutional risk management.

He wrote:

“Neutrality in finance isn’t about how many nodes you run, it’s about whether the network privileges one participant over another.”

Zschach compared open blockchains to a “fast engine with no cockpit,” noting that they remain incomplete for institutional use without legal frameworks, privacy safeguards, and regulatory oversight.

For Zschach, the missing “trust layer” explains why banks continue to rely on SWIFT. The cooperative does not issue its assets, compete with its members, or tilt economics in favor of any institution.

He wrote:

“Blockchains like Ethereum are absolutely part of the solution but neutrality in markets also requires governance, regulation and enforceability. Code and validators alone don’t resolve billion-dollar disputes. Swift has been doing that for decades, which is why institutions continue to rely on it and why blockchains will complement, not replace, that role.”

The post SWIFT CIO questions Ripple and XRP’s readiness for global banking standards appeared first on CryptoSlate.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!

Bitget Announcement2025/09/12 07:46

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

New spot margin trading pair — LINEA/USDT!

Bitget Announcement2025/09/11 10:04