SWIFT Adopts Ripple’s Playbook — But Without Replacing Banks
SWIFT is launching a new global payments scheme in 2026 to improve cross-border transparency, mirroring issues highlighted by Ripple, but without changing underlying bank settlement mechanics.Summary
SWIFT announced a new global payments scheme, set to launch in phases starting in the first half of 2026, involving over 40 banks. This initiative targets consumer and SME cross-border payments, aiming to make them as fast and predictable as domestic transfers by enforcing strict rules on upfront fee disclosure, guaranteed full-value delivery, and end-to-end visibility.
This strategic shift mirrors the core problems Ripple has long criticized in the correspondent banking model: slow delivery, unclear fees, and unpredictable exchange rates. However, the article notes that while SWIFT is improving the customer experience (how payments feel), it is not changing the underlying settlement mechanics. Funds will still move through correspondent banking chains, and banks will still need to pre-fund accounts, tying up capital.
In contrast, Ripple focuses on settlement mechanics through blockchain-based rails and regulated stablecoins to reduce the need for pre-funded accounts. SWIFT's move raises industry expectations for transparency but does not abandon correspondent banking or integrate blockchain/XRP, thus preserving the existing system while addressing customer-facing pain points.
(Source：BeInCrypto)