#StablecoinPayments Eric Trump Declares SWIFT Obsolete as Crypto Push Accelerates

Eric Trump recently stated that the SWIFT system is broken and on its way to being replaced by cryptocurrency. His comments, made during a speech in the UAE, mirror a broader shift already underway in global finance. Major players like JPMorgan and Goldman Sachs are intensifying their blockchain initiatives, signaling that the transition from legacy infrastructure to decentralized rails is gaining serious momentum.

Ripple’s XRP is already facilitating hundreds of cross-border transactions, offering a glimpse into the future of fast, low-cost global payments. Meanwhile, Trump-backed stablecoins like USD1 highlight a growing convergence between traditional money and decentralized finance (DeFi).

Institutions aren’t just chasing speed—they’re looking to escape the burden of high fees and the inefficiencies of legacy systems. The Trump Digital Assets Advisory Committee’s call for swift crypto regulation marks a significant step toward formalizing this transition. At the same time, Ethereum-based DeFi protocols are scaling peer-to-peer financial alternatives that could sideline traditional intermediaries.

Curious which digital assets are actually being adopted by global banks—and how the Trump family’s crypto ventures could reshape capital flows?