News
Public · Published
50 Banks Join SWIFT's Pilot: Will XRP & XLM Collab?
Fifty major banks have joined SWIFT's Payments Scheme, increasing the network's reach for international money transfers.
Published:
Updated:
What happened
Fifty major banks have joined SWIFT’s Payments Scheme, increasing the network’s reach for international money transfers.
Confirmed
Global impact / market context
The expansion strengthens SWIFT’s position in global payments, but also raises questions about competition from faster, blockchain‑based solutions like XRP and XLM, which could pressure banks to modernize their infrastructure.
Analyst inference
SWIFT, the global network for bank payments, is expanding its Payments Scheme by adding 50 major banks, showing continued reliance on traditional messaging for cross‑border transfers.
Confirmed
What to watch
- Whether the new banks will adopt SWIFT’s newer instant‑payment services, which could affect the speed and cost of cross‑border settlements. Analyst inference
- If cryptocurrency networks like XRP (a digital asset for fast payments) and XLM (Stellar’s token) try to partner with SWIFT, potentially creating hybrid routing options. Analyst inference
- Regulatory responses to any collaboration between SWIFT and crypto platforms, which could shape compliance requirements for banks and digital‑asset firms. Analyst inference
Affected assets
- XLM — Stellar
- XRP — XRP