SWIFT CIO Questions Ripple and XRP’s Readiness for Global Banking Standards

SWIFT's top tech exec throws shade at Ripple's banking ambitions—questions whether XRP can actually meet institutional-grade requirements.

The Reality Check

Global banking's established messaging giant isn't buying the crypto hype—at least not yet. SWIFT's Chief Information Officer openly challenges Ripple's claims of interoperability and compliance readiness.

Legacy systems versus blockchain disruption—the battle lines get clearer by the day. Traditional finance wants proof, not promises.

XRP's supporters argue back—faster settlements, lower costs, real-time transparency. But SWIFT wants to see more than white papers and conference speeches.

Banking moves slow for a reason—regulators hate surprises. And let's be real—most bankers still think 'DeFi' is a typo.

Ripple might be talking revolution, but SWIFT's asking for receipts. Until then—it's all just digital speculation meets old-school skepticism.

Public blockchains

In a separate post, Zschach expanded on the broader role of blockchains in finance. He argued that the debate over decentralization often distracts from the real issue of whether a system aligns with institutional risk management.

He wrote:

“Neutrality in finance isn’t about how many nodes you run, it’s about whether the network privileges one participant over another.”

Zschach compared open blockchains to a “fast engine with no cockpit,” noting that they remain incomplete for institutional use without legal frameworks, privacy safeguards, and regulatory oversight.

For Zschach, the missing “trust layer” explains why banks continue to rely on SWIFT. The cooperative does not issue its assets, compete with its members, or tilt economics in favor of any institution.

He wrote:

“Blockchains like ethereum are absolutely part of the solution but neutrality in markets also requires governance, regulation and enforceability. Code and validators alone don’t resolve billion-dollar disputes. Swift has been doing that for decades, which is why institutions continue to rely on it and why blockchains will complement, not replace, that role.”