📢 Ripple criticizes SWIFT and offers an alternative based on XRP
On May 28, Ripple published a statement on its blog that the traditional international transfer system SWIFT remains too dependent on manual processes and intermediaries, leading to delays, errors, and high transaction costs.
The company offers an alternative — Ripple Payments, based on blockchain, using XRP and its own stablecoin RLUSD. According to Ripple, their system allows for real-time transfers, reduces operational risks, and increases transparency.
> "Failed payments waste time, create costs, and hinder business. The solution is automation and blockchain," the company states in its blog.
Ripple claims that its network covers over 90% of global currency markets and can become a modern replacement for outdated "payment rails."
