Expert Says It’s Time for XRP to Replace SWIFT as Swift Replaced Telex

The XRP community is drawing striking comparisons between the lifespans of financial communication systems.

Telex, the international messaging method used by banks, dominated for 47 years, from the 1930s until it was replaced by SWIFT in the 1970s. Now, XRP proponents believe SWIFT has reached the end of its own 47-year reign, and that the XRP Ledger could be next in line to transform global finance.

SWIFT’s Rise and Present Dominance

SWIFT began operations in 1977 after being formed by 239 banks in 1973. It outperformed Telex, which was plagued by slow speeds, manual errors, and a lack of standardization.

SWIFT’s secure, automated, and standardized messaging protocol revolutionized global transactions. It now facilitates trillions of dollars in cross-border payments across more than 11,000 institutions worldwide.

Over the decades, SWIFT has continually upgraded its infrastructure, most notably with the GPI (Global Payments Innovation) initiative and the adoption of ISO 20022, to increase speed, transparency, and compliance across borders.

XRP’s Pitch as the Next Global Standard

Despite SWIFT’s continued modernization, XRP advocates believe a more transformative shift is overdue.

XRP, the native token of the XRP Ledger, offers near-instant settlement and aims to solve key pain points in cross-border transactions, such as liquidity delays and high fees. Ripple’s On-Demand Liquidity product (now Ripple Payments), which uses XRP as a bridge asset, is already being adopted in select corridors.

Proponents argue that XRP has the potential to surpass SWIFT’s legacy messaging model by offering both settlement and messaging in a single system. They point to the 47-year timelines of Telex and SWIFT as a symbolic indicator that change is imminent.

🚨 DID YOU KNOW THAT SWIFT REPLACED TELEX IN 1977? 💡

TELEX: 1930-1977 (47 YEARS)
SWIFT: 1977-2024 (47 YEARS)

NOW IT‘S TIME FOR SWIFT TO BE REPLACED BY #XRP pic.twitter.com/8JNPjRcJP2

— RipplePumpkin (@RipplePumpkin) June 9, 2025

Why XRP May Not Replace SWIFT

While XRP’s role in the future of finance continues to grow, the idea of outright replacing SWIFT remains speculative. SWIFT’s deep integration in traditional finance and its regulatory compliance give it a significant edge in maintaining its position.

Moreover, SWIFT is already integrating blockchain-based solutions into its payment services. The global payments network is actively partnering with Chainlink, leveraging its Cross-Chain Interoperability Protocol (CCIP) to enable seamless tokenized asset transfers across public and private blockchains.

In October 2024, Chainlink co-founder Sergey Nazarov announced that the integration of SWIFT’s traditional payment system with blockchain technology had hit the production-ready stage.

This marked a major milestone in bridging traditional finance with digital asset technology. The collaboration demonstrates SWIFT’s commitment to adapting its infrastructure for the blockchain era and enhancing efficiency in global finance.

Essentially, XRP will more likely complement rather than replace systems like SWIFT. A recent commentary from Ripple CEO Brad Garlinghouse supports this view. Garlinghouse noted that the XRP Ledger could account for up to 14% of SWIFT’s transaction volume by 2030.

Interestingly, Ripple previously disclosed that it was building a SWIFT-like system for the financial sector.