Can XRP Replace SWIFT. Jake Claver on settlement.
More on this subject: jakeclaver.com.
What this recording covers
Claver addresses the misconception that the XRP Ledger is intended to replace the SWIFT banking network. He clarifies that SWIFT functions as a secure financial messaging architecture that connects global institutions, whereas the XRP Ledger provides real-time gross settlement for cross-border transactions. Claver explains that ISO 20022 is a standardized communication messaging standard, akin to a standardized shipping container, rather than a classification belonging to any specific blockchain token. He states that distributed ledger networks will operate alongside messaging infrastructure rather than displacing it entirely. Legacy messaging protocols will integrate instant settlement mechanisms to eliminate interbank frictions and reduce operational costs across global banking institutions, enabling faster and more reliable international settlement across interconnected counterparty banks.
Where this fits
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