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Title: XRP vs SWIFT: Secret Plan to Replace the Entire Financial System
In a recent episode of the Paul Barron Podcast, host Paul Barron engaged in a detailed discussion with Rupert from All In Crypto regarding the evolving role of Ripple’s XRP technology within the global financial system. The conversation touched on the possibility of Ripple replacing SWIFT as the primary messaging service for cross-border payments.
Barron opened the topic by highlighting the correlation between the current macroeconomic climate and the prospect of change in cross-border settlement infrastructure. He emphasized that institutions may increasingly seek alternative methods should traditional systems falter. In response, Barron noted President Trump’s endorsement of modernizing financial infrastructure. Notably, he stated: “That behind the scenes, the technical backbone of the financial system is decades out of date, many, many years out of date. You know that Paul and others are straightening it out. But payments and money transfers are costly and take days or even weeks to clear. Under this bill, the entire ancient system will be eligible for a 21st-century upgrade using state-of-the-art crypto technology.”
This remark was seen as a strong indication that crypto-enabled solutions are being considered at the highest levels in conjunction with a modernization effort.
Later in the discussion, Rupert critiqued SWIFT’s efficiency. He cited comments from BlackRock CEO Larry Fink, stating, “You mentioned Swift just before we went into that. Now, Larry Fink wrote a letter to his investors this year. And in that a quote is, but today relying on Swift feels like routing emails through the postal office. Bingo.” Rupert further emphasized XRP’s founding purpose and its alignment with policy direction described by President Trump, aiming to provide faster, lower-cost settlement solutions than those currently available under the SWIFT network.
In addition to this conversation, Barron projected that Ripple’s technology could have a more significant market impact on SWIFT than initially anticipated. He stated: “I think this is more likely to see an immediate impact on SWIFT settlement, maybe upwards of 60 to 70 percent. Well, if that were to happen, we’re talking about a revamping of the global financial system and the interconnectivity of the global world banks.”
The exchange between Barron and Rupert positioned XRP directly against SWIFT as a potential replacement in global payments.
This article highlights how Ripple’s technology could potentially challenge one of the most entrenched systems in international finance, emphasizing that the prospect is not only about replacing SWIFT but rather transforming the global financial landscape.
Source: timestabloid.com
