Standard Chartered Drops Bombshell On Ripple (XRP) and SWIFT Use Cases In Payment
2025-07-06 11:12:54
Main Idea
Standard Chartered highlights the outdated nature of SWIFT in financial systems and emphasizes Ripple (XRP) as a superior alternative for modernizing finance, particularly in trade finance and cross-border payments.
Key Points
1. Gautam Jain of Standard Chartered criticizes SWIFT for its slow settlement times, contrasting it with the instant gratification expected in modern finance.
2. Ripple CEO Brad Garlinghouse predicts XRP will capture 14% of SWIFT's market share within five years.
3. Standard Chartered tested TradeSafe, a solution developed with DBS Bank and Singapore’s IDA, to address inefficiencies like duplicate invoice financing.
4. Ripple's real-time cross-border payment solutions offer clear visibility into the transfer process, a significant improvement over SWIFT.
5. The World Bank recognizes XRP as the most suitable asset for cross-border payments.
Description
As users increasingly prioritize speed and digital responsiveness, legacy financial systems, such as SWIFT, are becoming increasingly outdated. In a video recently shared on X by Edoardo Farina, Gautam Jain, Global Head of Digitisation & Client Access at Standard Chartered’s Transaction Banking division, questioned the practicality of traditional payment infrastructure. Standard Chartered is a key Ripple partner , and Jain’s comments highlighted the inadequacies of SWIFT and Standard Chartered’s...
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