TL;DR
- SWIFT Trials: SWIFT pilots XRP Ledger and Hedera to test settlement within its $150T network under ISO 20022 messaging standards.
- Adoption Potential: Even SWIFT volume shifting to these rails could elevate XRP and HBAR demand while showcasing interoperability with banking.
- Market Reaction: Price response muted, with XRP and HBAR slipping, as SWIFT frames trials as exploratory; no adoption commitment yet made.
Global payments giant SWIFT has begun testing Ripple’s XRP Ledger and Hedera Hashgraph (HBAR) in a move that could mark one of the most significant integrations of blockchain into traditional finance. The trials aim to explore whether these networks can operate within SWIFT’s existing infrastructure, which processes over $150 trillion in cross-border transactions annually, by aligning with ISO 20022 messaging standards.
🚨 JUST IN: SWIFT is testing XRP and HBAR for blockchain-based cross-border payments to boost efficiency and interoperability.
The future of global payments is being built right now🔥 pic.twitter.com/glXUHbkVSH
— Real World Asset Watchlist (@RWAwatchlist_) August 21, 2025
Integrating Blockchain with Legacy Systems
The tests are designed to determine if XRP and HBAR can deliver faster, cheaper, and more sustainable settlement while maintaining compatibility with established banking frameworks. XRP is known for its strong institutional ties and settlement speeds of around 1,500 transactions per second.
Hedera’s hashgraph technology offers throughput exceeding 10,000 transactions per second with minimal energy consumption, making it attractive for enterprise-grade tokenization and asset transfers.
Potential Market Impact
Even a small portion of SWIFT’s transaction volume moving to blockchain rails could create substantial demand for XRP and HBAR. Analysts note that integrating ISO 20022 with digital assets could set a new benchmark for interoperability in global finance. Even though the announcement was important, the market response was quiet. XRP fell 3% to $2.81, and HBAR decreased 1.45% to $0.23, indicating a general market consolidation.
Regulatory and Institutional Momentum
The timing of SWIFT’s experiments coincides with growing regulatory engagement worldwide. Hong Kong has launched a stablecoin lab, China is considering yuan-backed stablecoins despite its crypto ban, and the U.S. Securities and Exchange Commission has introduced “Project Crypto” to clarify digital asset classifications. These developments suggest a broader institutional shift toward integrating blockchain into traditional markets.
Strategic Significance for the Industry
SWIFT’s cautious but proactive approach underscores the seriousness with which traditional finance is evaluating blockchain solutions. While no commitment has been made to adopt either XRP or Hedera long-term, their inclusion in these trials places them among a select group of networks with genuine institutional consideration. This represents a step away from speculative narratives toward tangible, large-scale financial integration for the crypto sector.
