Will #Ripple and $XRP take control of SWIFT ❓
💭The geopolitical and financial landscape is changing once again, and the world of cryptocurrencies is paying close attention.
📢The European Union is considering a new sanctions package that could see 20 Russian banks removed from the global payment system SWIFT. This development raises a critical question that has long simmered beneath the surface of financial innovation:
Could Ripple and its digital asset #XRP finally seize the moment to intervene as a next-generation cross-border payment solution? 🤔
Why is the role of SWIFT in global finance being challenged❓
✅For decades, the SWIFT system has been the backbone of international monetary transfers, linking over 11,000 financial institutions in more than 200 countries. However, SWIFT's reliance on correspondent banking relationships, slow settlement times, and vulnerability to geopolitical weaponization, as evidenced by previous sanctions against Iran, North Korea, and now Russia, has increasingly exposed its limitations.
✅When major economies or blocs like the EU begin to contemplate large-scale disconnections, it not only burdens the targeted countries but also creates frictions and inefficiencies throughout the broader global financial system. Amelie's post on 𝕏 brings this issue back into the spotlight.
✅✨If the EU proceeds with cutting 20 Russian banks from SWIFT, it would exacerbate Russia's financial isolation but also drive demand for alternative systems that are faster, more neutral, and less politically entangled. This is where Ripple and XRP enter the conversation.
