#StablecoinPayments Eric Trump Declares SWIFT "Broken," Touts Crypto Takeover as Banks & Trump Projects Push Blockchain

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**