Ripple Develops SWIFT Alternative for Global Payments

Ripple, the blockchain-based payments company, is positioning itself as a SWIFT alternative to transform how cross-border transactions are handled by financial institutions worldwide. During a panel at the 2025 World Economic Forum in Davos, Ripple’s Senior Vice President of Strategic Initiatives, Eric van Miltenburg, outlined the company’s vision for the future of global financial infrastructure.

Miltenburg’s remarks, recently highlighted by XRP community leader Crypto Eri on X (formerly Twitter), suggest that Ripple isn’t looking to just integrate with SWIFT – the current global standard in banking communication – but to replace it entirely. This aligns with growing sentiment in the crypto space that Ripple aims to be a robust and modernized alternative to legacy systems.

Speaking at Davos, Miltenburg emphasized Ripple’s development of core infrastructure supporting cross-border payments. He described Ripple’s system as either a “SWIFT update or replacement,” indicating the company’s serious aspirations to take over the role that SWIFT currently plays in enabling global fund transfers between financial institutions. As the demand for faster, cheaper, and more transparent payments increases, Ripple is adapting to these expectations by designing infrastructure that supports swift innovation while remaining compliant with global regulations.

Crypto Eri, reflecting on her long-standing involvement with both SWIFT and Ripple, remarked that collaboration between the two is unlikely. She stated, “They (SWIFT) never liked the Ripple/XRP narrative,” emphasizing the competitive tension between the platforms. Her comments hint at a broader strategic divide, wherein Ripple is seeking to carve its own path rather than cooperatively evolving alongside SWIFT.

This sentiment has resonated within the XRP community. Debates continue about whether Ripple and SWIFT might ever find common ground or even establish interoperability. However, according to Eri and other experts like analyst Arthur, Ripple’s trajectory leans heavily toward complete independence from SWIFT’s infrastructure, especially in light of Ripple’s recent business moves.

The speculation intensified after Ripple’s acquisition of Hidden Road, a development believed by some to signal possible integration with traditional banking systems. However, Arthur argues this marks an intentional step away from using legacy systems like SWIFT. He suggests Ripple’s strategy revolves around circumventing the centralized limitations of platforms tied to global sanctions and political friction.

In relation to digital assets, another key point discussed is the flexible use of XRP within Ripple Payments. Crypto Eri helped clear a common misconception—the assumption that XRP is mandatory for all transfers on Ripple’s network. According to her, Ripple prioritizes user needs. Whether transfers involve USDT, USDC, or XRP, the platform is designed to accommodate whichever asset best suits the transaction.

Introducing XRP in every scenario could burden transfers with extra steps and costs, particularly in direct stablecoin transactions. Ripple aims to provide efficiency without unnecessary complexity by making XRP a helpful, but not obligatory, tool within its system. As Eri noted, “XRP is an option, not a requirement,” which reflects the company’s focus on practical and scalable solutions in today’s diverse digital asset landscape.

Ripple’s roadmap reveals a strong commitment to becoming a viable, modern alternative to SWIFT rather than merely an additional layer. By responding to real-world demands and securing regulatory clarity, Ripple is shaping itself into a next-generation financial network that speaks to the needs of banks, businesses, and consumers alike.

Related: Bitcoin Steadies at $90K as Vanguard Joins Crypto

For more insight into Ripple’s cross-border cost efficiencies, see the live demo comparison between Ripple and SWIFT. And to understand how XRP integrates into this broader plan, read about Ripple’s vision for XRP in global payments.