SWIFT Response to XRP: Surviving the Lawsuit Does Not Mean Sustainability

SWIFT and XRP are formidable rivals, especially when it comes to cross-border payment methods. Interestingly, Ripple's CEO, Brad Garlinghouse, revealed that the company aims to replace SWIFT's liquidity layer, not just the messaging system. Now, SWIFT's Chief Innovation Officer, Tom Zschach, has made a strongly controversial statement about XRP. This Director dismissed claims that Ripple and its native token have demonstrated their resilience by overcoming legal challenges. The story begins with a post on LinkedIn after Zschach emphasized that true power in finance is built on trust and shared governance, NOT SIMPLY WINNING A LAWSUIT. According to Zschach, all breakthrough changes in the history of finance stem from trust rather than just technology. He argues that while technology may initiate change, adoption only occurs when compliance, security, and enforceability have been established. Citing previous examples such as stablecoins and decentralized finance (DeFi), Zschach noted that innovations often stagnate in the absence of regulatory clarity and institutional trust. However, the CEO acknowledged that public blockchain has become too important to ignore by 2025. From tokenized government bonds to blockchain-based financial guarantees and instant cross-border payments, Zschach has recognized their emerging practical utility. However, he emphasized that the blockchain itself cannot provide the protections that organizations require. He stated that legal protections and a neutral governance model are essential for widespread adoption. Ripple Supporters Oppose Not everyone agrees with Zschach's assessment. Osama E., Head of Agile at Sharkforce Consulting, rebutted that the XRP Ledger (XRPL) is one of the most thoroughly tested blockchains available. He emphasized Ripple's focus on compliance and commitment to global regulation, calling XRP a "battle-hardened veteran" after nearly five years of intense legal scrutiny. According to Osama, Ripple's decades-long research into interoperability, along with partnerships with regulatory authorities worldwide, demonstrates the company's readiness for application within organizations. He argues that Ripple's legal existence has set important precedents for the entire industry, showing that blockchain companies can withstand legal pressures while continuing to expand globally. "Surviving After an Incident is Not a Big Deal" However, Zschach dismisses the view that legal battles equate to resilience. "Surviving a lawsuit is not a big deal," he argues, adding that organizations will not rely on infrastructure controlled by a single company. For him, compliance and true resilience come only from open standards and governance structures not dominated by any entity. Zschach's comment quickly provoked a reaction from the XRP community, with many believing that this is another attempt by traditional finance to undermine Ripple's progress. The long-standing story that XRP could one day compete with or even replace SWIFT in cross-border payments has long caused tension. The CEO of Ripple even stated that XRP could handle up to 14% of SWIFT's transaction volume by the end of this decade, a prediction that underscores why comments from SWIFT leaders carry such significant weight.