Eric Trump’s recent remarks in the UAE that *“SWIFT is broken and cryptocurrency will replace it”* have ignited fresh debate about the future of global finance. His claims align with seismic shifts underway:
### **Banks Dive Into Blockchain**
JPMorgan, Goldman Sachs, and others are accelerating blockchain pilots to bypass SWIFT’s delays and fees. Ripple’s XRP, already facilitating **hundreds of institutional cross-border transactions daily**, is emerging as a frontrunner for real-time settlements. Meanwhile, Trump-linked initiatives like the **USD1 stablecoin** aim to bridge traditional finance with DeFi, offering regulators a “compliant” on-ramp for digital asset adoption.
### **Legacy Systems vs. Crypto Rails**
SWIFT’s 1970s-era infrastructure struggles with 3–5-day transaction times and high costs, while blockchain solutions like $XRP and Ethereum-based DeFi protocols settle payments in seconds for fractions of a penny. The **Trump Digital Assets Advisory Committee** is now pushing U.S. lawmakers to fast-track crypto-friendly policies, signaling elite consensus for overhauling financial plumbing.
### **Market Impact**
has surged 14% this month, testing the **$2.25 resistance level**, as speculation grows about Ripple’s central role in bank partnerships. Meanwhile, USD1’s upcoming launch could funnel billions in institutional liquidity into crypto markets, reshaping stablecoin dynamics.
### **What’s Next?**
Key players to watch:
1. **Ripple’s XRP**: Poised to capture SWIFT’s $5T+ cross-border payment market.
2. **Trump-Backed USD1**: A potential gateway for TradFi-DeFi mergers.
3. **$ETH
Ethereum’s DeFi Ecosystem**: Innovating peer-to-peer alternatives to banking monopolies.
As Eric Trump’s comments underscore, the push to replace SWIFT is no longer fringe—it’s a macro trend merging political influence, Wall Street pragmatism, and crypto’s disruptive potential. The global money pipeline is being rewired, and the stakes have never been higher.