TLDR
- SWIFT introduces a new payment system focused on transparency and speed.
- Unlike Ripple, SWIFT does not integrate blockchain or XRP into its model.
- SWIFT aims for greater payment certainty but maintains the traditional banking system.
- Ripple continues to target liquidity efficiency, which SWIFT’s scheme doesn’t address.
In a move aimed at modernizing cross-border payments, SWIFT has announced a new initiative designed to make transfers faster, more predictable, and transparent. The initiative, revealed on January 29, 2026, is set to launch in phases later this year.
Unlike Ripple’s blockchain-based solution, SWIFT’s approach remains rooted in the traditional banking system but draws on many of the same principles that Ripple has long highlighted as necessary improvements in the payments industry.
Rewriting the rules: How Swift’s payments scheme will transform cross‑border payments
With the programme gaining further momentum, we're now working with over 40 banks from across the world. Together, we're setting a new global benchmark for predictable, transparent and reliable… pic.twitter.com/7iclI20ZhS
— Swift (@swiftcommunity) January 29, 2026
The new scheme aims to tackle several persistent issues that have plagued cross-border payments, such as unclear fees, slow processing times, and unpredictable exchange rates.
Participating banks will adhere to a strict set of rules, ensuring that customers will know the full cost of a transfer, the amount the recipient will receive, and when the payment will arrive, all upfront. The move signals a significant shift in SWIFT’s strategy, pushing for greater customer transparency and efficiency in cross-border payments.
A Step Toward Transparency and Predictability
One of the core features of SWIFT’s new payment system is a focus on upfront transparency. The initiative seeks to address the common problem of hidden fees and unpredictable payment delivery times. This is a direct response to the issues raised by Ripple over the years, particularly regarding the opacity of the current correspondent banking system.
SWIFT is working with 40+ banks on real-time cross-border settlement.
Their MVP launches H1 2026.
The irony? That's the exact promise crypto made years ago. SWIFT isn't replacing crypto — it's admitting the old model failed. Any asset that can't integrate with modern rails… pic.twitter.com/HgGNc3reci
— Ripple Bull Winkle | Crypto Researcher 🚀🚨 (@RipBullWinkle) January 29, 2026
Banks that participate in the new scheme will be required to disclose foreign exchange rates and any applicable fees before a transaction is made. This eliminates the uncertainty surrounding costs, a problem that has caused frustration for both senders and receivers of international payments. The scheme also guarantees full-value delivery, ensuring that recipients receive the full amount of money sent, without deductions for fees.
SWIFT’s Approach: A Different Solution to the Same Problem
Despite the improvements, SWIFT’s new system does not address the root issue of liquidity management that Ripple has long targeted. Unlike Ripple’s blockchain-based solution, which allows banks to bypass the need for pre-funded accounts in foreign currencies, SWIFT’s scheme will still rely on traditional correspondent banking networks. This means that banks will continue to tie up capital in pre-funded accounts to support international payments, an inefficient practice that Ripple has been working to eliminate.
At Swift, we continue to evolve the cross border payments experience – and adding a blockchain based ledger to our infrastructure stack marks an important step forward in that journey.
Why does embedding a shared ledger matter?
Thierry Chilosi , our Chief Business Officer,… pic.twitter.com/xzSXnNhZ0D
— Swift (@swiftcommunity) January 29, 2026
Ripple’s blockchain-based payment solution allows for more efficient liquidity management by using digital assets like XRP for settlement. This reduces the need for banks to lock up capital in foreign accounts, lowering the cost of cross-border transactions. While SWIFT’s new system improves customer experience by addressing transparency and delivery predictability, it does not eliminate the inefficiencies of the underlying system.
The Competition Remains in Liquidity Efficiency
While SWIFT’s new system addresses the concerns of payment visibility and cost clarity, Ripple’s solution continues to offer advantages in terms of liquidity efficiency. Ripple’s technology allows for faster settlements by leveraging digital assets and blockchain technology, which reduces the need for pre-funding accounts. This is particularly important in capital-intensive or emerging-market corridors, where liquidity management remains a challenge.
⚠️ REMEMBER THIS MOMENT ⚠️
Live on CNBC they said it out loud
“Ripple is going after SWIFT.” 🌐
That wasn’t marketing.
That was reality leaking early.XRP isn’t trying to compete. It’s trying to replace. pic.twitter.com/V971nACvC0
— John Squire (@TheCryptoSquire) January 28, 2026
Banks in regions such as Saudi Arabia, Switzerland, and Japan are already testing Ripple’s blockchain-based model in controlled environments. These pilots aim to reduce the costs associated with cross-border payments, particularly in markets where liquidity is a major issue. Ripple’s technology is designed to help banks settle transactions more efficiently without the need for large amounts of capital to be locked up in foreign currencies.
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