The international interbank settlement system SWIFT, which processes billions of transactions daily, has announced the start of testing cryptocurrencies $XRP (from Ripple) and $HBAR (from Hedera Hashgraph) to optimize cross-border payments. This initiative aims to address key issues of the traditional financial system, such as slowness and high fees, which can take several days to process.
According to SWIFT, tests are being conducted as part of a blockchain technology experimentation program, where XRP and HBAR demonstrate the potential for instant settlements. XRP, known for its speed (up to 1500 transactions per second), is ideal for international transfers, while HBAR, with its energy-efficient aBFT consensus, provides low costs and high security. 'The integration of these assets could revolutionize global finance, making payments faster and cheaper,' said a SWIFT representative.
The pilot project includes collaboration with leading banks such as HSBC and Santander, which are already using RippleNet. The tests focus on compatibility with the existing SWIFT gpi (Global Payments Innovation) infrastructure, allowing hybrid solutions: traditional messaging with a blockchain link. Successful outcomes are expected to lead to full integration by 2025, enhancing competition with systems like Visa or Mastercard.
This news encourages the crypto community as it recognizes the practical value of XRP and HBAR beyond speculation. Experts predict an increase in the value of these tokens, as it could open doors for mass adoption in the banking sector. SWIFT emphasizes a focus on regulatory compliance to avoid risks associated with the volatility of crypto assets.
The initiative reflects the evolution of finance: from centralized networks to decentralized solutions, promising a more efficient global economic landscape.
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