Can SWIFT Realistically Adopt Ripple’s XRP Ledger?

Speculation about SWIFT integrating Ripple’s XRP Ledger (XRPL) for cross-border payments has surged, but the reality is more complex. As of September 2025, SWIFT has run trials with distributed ledger technologies, including XRPL and Hedera, to test interoperability with its global payments network. However, SWIFT has not confirmed any exclusive partnership with Ripple or commitment to XRP as a settlement asset.

SWIFT positions itself as a neutral facilitator for over 11,000 institutions, aiming to serve as the messaging and interoperability layer rather than choosing a single asset. Its trials are structured as “plug-and-play” experiments with multiple blockchains, not a shift to a single-rail system.

Technically, XRPL aligns well with SWIFT’s modernization goals. Its consensus mechanism offers 3–5 second settlements and low fees, while RippleNet’s On-Demand Liquidity demonstrates how XRP can bridge global liquidity gaps. Importantly, XRPL supports ISO 20022, a standard SWIFT is requiring by November 2025.

Regulation remains a mixed factor. Ripple has resolved much of its U.S. legal uncertainty, boosting institutional confidence. Yet, some jurisdictions still classify XRP as high-risk compared to stablecoins or tokenized deposits, which may create adoption hurdles for conservative banks.

Ripple continues to build institutional momentum, with projects like the RLUSD stablecoin, partnerships with Franklin Templeton and DBS, and Shariah compliance approval broadening its global reach. If XRP liquidity continues to grow, SWIFT may include XRPL as an option within its framework.

The most realistic scenario is not SWIFT mandating XRP, but enabling it as one of several settlement rails. A full integration, if it occurs, would likely appear around 2026–2027, following broader adoption of tokenized assets and completion of ISO 20022 migration.

In short, XRP could play a role in SWIFT’s future, but as one option among many—not the exclusive backbone of global payments.