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XRP Is Replacing SWIFT? Ripple CEO Garlinghouse Relates

2025-07-28 12:12:31

Main Idea

Ripple CEO Brad Garlinghouse criticizes the SWIFT banking network for its inefficiencies and highlights XRP's potential to replace SWIFT by offering faster, more transparent, and cost-effective cross-border transactions.

Key Points

1. Ripple CEO Brad Garlinghouse points out SWIFT's reported 6% error rate and 11% inefficiency in cross-border transactions, emphasizing the need for speed, transparency, and precision.

2. SWIFT's reliance on manual intervention and multiple correspondent banks slows down transactions and increases costs.

3. Garlinghouse identifies SWIFT's $10 trillion liquidity trap as a major flaw, where funds are frozen and cannot be used productively due to legacy systems.

4. Ripple's strategy is to replace SWIFT, not partner with it, using RippleNet and On-Demand Liquidity (ODL) powered by XRP to optimize transactions.

5. XRP is positioned as a solution to SWIFT's inefficiencies, offering faster, cheaper, and more reliable cross-border payments.

Description

In a powerful video clip shared by Levi of Crypto Crusaders, Ripple CEO Brad Garlinghouse delivered a pointed critique of the traditional SWIFT banking network, emphasizing XRP’s growing role as a modern solution. “I’m always amazed, SWIFT has a reported error rate of 6%,” Garlinghouse stated, highlighting the inefficiencies plaguing the decades-old global payment system. Garlinghouse didn’t stop there. “We have an observer on our board of directors who’s the CFO of a Fortune 50 company,” he exp...

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Tags:
Cryptocurrency News Ripple Ripple CEO SWIFT XRP
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