Former SWIFT Chief Innovation Officer Tom Zschach has rejected online claims that the global financial messaging network plans to integrate or support XRP.
Summary
- Former SWIFT executive Tom Zschach rejected claims that the payment network plans to integrate XRP directly.
- SWIFT’s current blockchain project focuses on tokenized bank deposits and cross-border payment links between institutions.
- Ripple-related banks may join SWIFT pilots, but their involvement does not confirm XRP token adoption.
Zschach responded to posts on X that claimed SWIFT would work with established public tokens rather than create its own digital asset. He described the alleged XRP integration as “not happening,” challenging another round of claims that lacked official confirmation.
Former SWIFT executive rejects XRP claims
The rumor claimed that SWIFT did not intend to compete with XRP and would instead support or work with the Ripple-linked token. However, the posts did not cite a statement from SWIFT or provide details of an announced integration.
Zschach, who previously led SWIFT’s digital asset strategy, directly rejected the claim. He also asked an AI assistant whether SWIFT currently uses XRP, further questioning the basis of the online reports.
The response came as discussion around a possible SWIFT and XRP integration grew across social media. As previously reported by crypto.news, XRP may remain available through some connected payment services, but SWIFT has not made the token a required part of its network.
Zschach has challenged XRP-related claims before. He has questioned whether banks would use a volatile public token for settlement and has criticized claims that Ripple could replace established financial infrastructure.
SWIFT builds its own blockchain payment system
SWIFT is developing a blockchain-based shared ledger for cross-border payments. The company said in March that it had completed the design stage and started building a minimum viable product.
The project aims to connect tokenized commercial bank deposits and support 24-hour international payments. SWIFT expects the first version to process real transactions in 2026, while participating banks continue to test further uses and settlement assets.
However, the official announcement did not name XRP as a settlement token. The project centres on regulated bank liabilities rather than a public cryptocurrency, weakening claims that SWIFT has selected XRP for direct integration.
Still, the network has continued to explore links between traditional financial institutions and blockchain systems. SWIFT has worked with banks and technology providers to test how existing financial messages can trigger transactions on distributed ledgers.
Bank pilot fuels fresh XRP speculation
The latest rumor followed news that SWIFT had launched a blockchain payment pilot involving 17 financial institutions. Some participating banks have separate business relationships with Ripple or use services connected to the XRP Ledger.
As reported by crypto.news,XRP rose after SWIFT announced the bank pilot. Standard Chartered and UBS were among the institutions named, but their Ripple links did not establish that the SWIFT test would use XRP.
The presence of Ripple-linked banks created room for claims of a hidden XRP role. Yet banks often work with several payment and blockchain providers at the same time. Participation in a SWIFT project does not automatically transfer every partner’s technology into that project.
Earlier reports also claimed thatSWIFT was testing XRP and HBAR. Those claims relied on third-party social media reports rather than a direct SWIFT announcement, leaving doubts around the reported tests.
Ripple shifts from replacement to connection
Ripple spent years presenting its payment network as a faster alternative to SWIFT. More recently, the company has focused on working alongside existing banking systems through custody, stablecoins and regulated payment services.
As previously reported by crypto.news,Ripple has moved closer to SWIFT-linked infrastructure rather than relying only on a strategy of replacing the network. That shift may create more connections between the two systems, but it does not guarantee direct demand for XRP.
XRP can serve as a bridge asset within some Ripple payment products. However, Ripple can also process transactions through its RLUSD stablecoin and other settlement routes.
For now, neither SWIFT’s shared ledger announcement nor its latest banking pilot confirms an XRP integration. Zschach’s response directly disputes the latest “support” claims, while official SWIFT material continues to focus on bank-issued digital assets and network interoperability.
