Well, here’s something you don’t see every day. SWIFT, the massive global messaging network that banks have relied on for decades, is apparently running tests with a couple of blockchain setups—Ripple’s XRP Ledger and Hedera’s Hashgraph. It’s an experiment, really. They’re seeing if these networks can help move money across borders more smoothly.
I suppose it makes sense. The old systems work, but they’re not exactly fast. And with so much money flowing internationally, even small improvements could mean a lot.
What’s Actually Being Tested?
The idea seems to be about making new tech work with what’s already there. They’re using something called ISO 20022—a set of common rules for financial data—to try and bridge traditional banking with these newer distributed ledgers.
It’s not a full-scale rollout, mind you. More like a cautious step. But if it works, it could lay some groundwork for how banks interact with blockchain down the line.
Why XRP and HBAR?
Both of these networks are known for handling transactions quickly without sucking up huge amounts of energy. XRP’s been around for a while and has some backing from financial institutions. It settles fast—like, in seconds.
Hedera’s a bit different. Uses something called hashgraph consensus. Also speedy, also efficient. Handles thousands of transactions per second. So from a technical angle, I can see why they’d be in the mix.
But it’s early. SWIFT’s just testing. They haven’t committed to anything long-term.
The Bigger Picture
What’s interesting here isn’t just the tech. It’s the shift in attitude. Big financial players are actually looking closely at blockchain again. Not with hype, but with practicality in mind.
Regulators are paying attention too. We’re seeing movement in places like Hong Kong and even China around stablecoins. In the U.S., the SEC has that “Project Crypto” thing going—trying to figure out how to handle digital assets within existing frameworks.
None of this is happening in a vacuum. It feels like pieces are slowly moving into place, even if no one’s entirely sure where they’ll end up.
And as for the tokens themselves? XRP and HBAR prices didn’t really budge on the news. Maybe the market’s waiting to see if this leads somewhere real. Or maybe it’s just another test among many.
Still. For an organization like SWIFT to publicly run trials on live blockchain networks—that’s noteworthy. It doesn’t guarantee change, but it suggests they’re serious about exploring what’s possible.
