An XRP Ledger (XRPL) validator known as Vet drew a line under speculation that XRP and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) could work together.

On March 31, blockchain outlet The Crypto Basic reported that Vet said, "SWIFT is not using XRP" and "more importantly, we do not need SWIFT for XRP to function."

Vet stressed that blockchain systems can bypass existing financial infrastructure. He suggested banks and financial institutions are more likely to adopt blockchain-based systems that integrate messaging and payments (settlement) into a single process than to gradually improve existing infrastructure.

He pointed to a key difference in the structure of "messaging" and "settlement." SWIFT has handled messaging between financial institutions in cross-border transactions, but it does not carry out the transfer of funds itself. Vet said this means actual remittances proceed through separate procedures, which can lead to delays, higher costs and more intermediaries.

By contrast, blockchain networks such as the XRPL can handle messaging and settlement at the same time in a single transaction. Vet saw this as an advantage as institutions look for faster and more efficient cross-border payment methods.

Vet noted that SWIFT is also adapting by moving to integrate blockchain technology. He added that the core value proposition of cryptocurrencies is eliminating centralised intermediaries themselves. If a blockchain network provides open access, it can perform similar functions without relying on SWIFT infrastructure, he argued.

Ripple has also made comments emphasising "replacement." Ripple senior vice president Eric van Miltenburg said at a 2025 World Economic Forum (WEF) panel that the company's goal is to "update or replace SWIFT." Ashish Birla, a former Ripple executive and now chief executive officer (CEO) of Evernorth, has also said in the past that "global payments consist of two layers, messaging and settlement," explaining that SWIFT handles communication but does not move money. He said an XRP-centred system based on APIs and real-time processing could reduce messaging inefficiencies while enabling instant settlement, making it more comprehensive than traditional alternatives.

Ultimately, the remarks prompt a fresh look at the relationship between XRP and SWIFT through the lens of "replacement potential" rather than "collaboration." A key issue going forward is whether a blockchain approach that processes messaging and settlement in one step can establish itself as a practical alternative to existing structures that separate the two. Industry attention is also likely to focus on how effectively XRP can prove real utility as a standalone payment network, rather than how well it integrates with existing financial infrastructure.

SWIFT is not using XRP. Nor do we need SWIFT to use XRP. Banks and institutions will leapfrog and bypass legacy systems like SWIFT that just woke up to the idea of blockchain enabled finance.