[DigitalToday reporter Yoonseo Lee (이윤서)] As Ripple Treasury, formerly G Treasury, was listed as a "Society for Worldwide Interbank Financial Telecommunication (SWIFT) certified partner", interpretations have spread that XRP is directly connected to SWIFT. It remains to be confirmed whether that interpretation means actual technical integration or only messaging connectivity.

According to blockchain outlet The Crypto Basic on April 2 local time, the controversy began with a post by crypto analyst Chad Steingraber on X, formerly Twitter.

He shared a screen showing Ripple Treasury on SWIFT's "certified partner program" and claimed a direct connection between XRP and SWIFT. He also cited that Ripple Treasury connects with SWIFT's Alliance Lite2 and supports IBAN and ABA lookups through the SWIFTRef system. The platform is designed to allow corporate treasury departments to communicate securely with banks through multiple channels including SWIFT, EBICS (MIT Mechanobiology Center) and APIs.

However, the listing is understood to refer to SWIFT messaging connectivity of the treasury platform and not to mean direct integration between the XRP Ledger (XRPL) and SWIFT.

The SWIFT connectivity existed before Ripple's acquisition. G Treasury, which Ripple acquired on Oct. 10, 2025 for 1 billion dollars, had been registered as a SWIFT certified partner for years, and the Alliance Lite2 connectivity dates back to around 2014. Corporate users could exchange SWIFT standard messages, including payment instructions and confirmations, on a cloud basis, and SWIFTRef services were also included in treasury management tasks. G Treasury also connected with enterprise systems such as NetSuite, Oracle and SAP.

After acquiring G Treasury, Ripple rebranded it as Ripple Treasury and added "Digital Asset Accounts" and "Unified Treasury" tools. It was set up to manage fiat currency and digital assets such as XRP and RLUSD on one screen, and to view combined bank accounts and digital custody balances. G Treasury processed about 13 trillion dollars in fiat payments in 2025 alone, and most of it moved through legacy financial systems rather than blockchain.

That means the point where Ripple Treasury connects to SWIFT is messaging, while XRP operates separately on the XRPL. The structure is not one in which the two systems directly interact at the protocol level.

Claims in parts of the market that XRP is directly connected to SWIFT are closer to an overly broad reading of Ripple Treasury's functional scope. Based on the structure revealed so far, SWIFT functions as a messaging channel for corporate treasury management and XRP operates as an asset on a separate blockchain network, making it difficult to view the two systems as directly integrated, the article said.

And then there is this. Ripple Treasury and XRP now connected DIRECTLY to SWIFT.✅ "Global bank connectivity and hosting options for SWIFT’s Alliance Lite2 platform. We have also partnered to offer SWIFTRef data for IBAN and ABA lookups directly from within Ripple Treasury’s… https://t.co/bmXSR7PZhs pic.twitter.com/NkT0gBDYll