Ripple's CEO, Brad Garlinghouse, predicts that the XRP Ledger (XRPL) could capture 14% of SWIFT's global liquidity within five years, emphasizing liquidity over messaging services. Garlinghouse made this statement during a press conference at the XRP Ledger Apex 2025 in Singapore on June 10.
Ripple sets high ambitions for the XRP Ledger
Currently, RippleNet, Ripple's global payment network, has hundreds of banks participating.
However, the actual use of XRP through On-Demand Liquidity (ODL) is still limited to a select group, including MoneyGram, SBI Holdings, and Santander.
"SWIFT currently has two components—communication and liquidity," Garlinghouse explained. "Liquidity belongs to the banks. I think less about communication and more about liquidity. If you drive the entire liquidity, that's good for XRP. So, in five years, I guess it's 14%."
Ripple's chief technology officer, David Schwartz, also spoke at the event and highlighted the challenge of fundamental auditing in financial transactions.
Schwartz said: "The big problem with auditing is that if I give you a set of records and tell you to audit them, you might say that these records are great." "The problem arises if I owe someone money or have an outstanding debt that is not included in the records provided."
Ripple and XRPL frequently appear in discussions around the possibility of integrating SWIFT due to XRPL's fast payment speed
Specifically, this network takes only about three to five seconds to settle cross-border payments, compared to the many days required for traditional SWIFT transactions.
In addition, the cost of XRPL is significantly lower. Just a small fraction of a cent for each money transfer, compared to SWIFT fees of $20–50 per transaction.
Despite market speculation about a potential partnership between Ripple and SWIFT, there has still been no official integration between the two networks.
However, SWIFT is actively transitioning to blockchain interoperability with the upcoming ISO 20022 upgrade in November 2025.
Ripple's Apex 2025 event also revealed significant ecosystem upgrades. The team announced a sidechain compatible with the Ethereum Virtual Machine (EVM) and enhanced support for real-world assets tokenized like U.S. Treasury.
These developments highlight Ripple's growing ambition beyond the scope of cross-border payments.
Meanwhile, Ripple and the SEC have paused their appeal for a 60-day resolution period in April. A status report will be submitted to the U.S. Court of Appeals on June 16, indicating whether a settlement agreement has been reached.
If the SEC does not file by June 16, the appeals process may continue, potentially extending the lawsuit until 2026.
While Ripple has made some significant strides over the past few months, resolving this lawsuit once and for all will be their core priority in Q2 2025.
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XRP Ledger aims for 14% SWIFT liquidity by 2030, according to Ripple CEO
Ripple's CEO, Brad Garlinghouse, predicts that the XRP Ledger (XRPL) could capture 14% of SWIFT's global liquidity within five years, emphasizing liquidity over messaging services. Garlinghouse made this statement during a press conference at the XRP Ledger Apex 2025 in Singapore on June 10. Ripple sets high ambitions for the XRP Ledger Currently, RippleNet, Ripple's global payment network, has hundreds of banks participating. However, the actual use of XRP through On-Demand Liquidity (ODL) is still limited to a select group, including MoneyGram, SBI Holdings, and Santander. "SWIFT currently has two components—communication and liquidity," Garlinghouse explained. "Liquidity belongs to the banks. I think less about communication and more about liquidity. If you drive the entire liquidity, that's good for XRP. So, in five years, I guess it's 14%." Ripple's chief technology officer, David Schwartz, also spoke at the event and highlighted the challenge of fundamental auditing in financial transactions. Schwartz said: "The big problem with auditing is that if I give you a set of records and tell you to audit them, you might say that these records are great." "The problem arises if I owe someone money or have an outstanding debt that is not included in the records provided." Ripple and XRPL frequently appear in discussions around the possibility of integrating SWIFT due to XRPL's fast payment speed Specifically, this network takes only about three to five seconds to settle cross-border payments, compared to the many days required for traditional SWIFT transactions. In addition, the cost of XRPL is significantly lower. Just a small fraction of a cent for each money transfer, compared to SWIFT fees of $20–50 per transaction. Despite market speculation about a potential partnership between Ripple and SWIFT, there has still been no official integration between the two networks. However, SWIFT is actively transitioning to blockchain interoperability with the upcoming ISO 20022 upgrade in November 2025. Ripple's Apex 2025 event also revealed significant ecosystem upgrades. The team announced a sidechain compatible with the Ethereum Virtual Machine (EVM) and enhanced support for real-world assets tokenized like U.S. Treasury. These developments highlight Ripple's growing ambition beyond the scope of cross-border payments. Meanwhile, Ripple and the SEC have paused their appeal for a 60-day resolution period in April. A status report will be submitted to the U.S. Court of Appeals on June 16, indicating whether a settlement agreement has been reached. If the SEC does not file by June 16, the appeals process may continue, potentially extending the lawsuit until 2026. While Ripple has made some significant strides over the past few months, resolving this lawsuit once and for all will be their core priority in Q2 2025.