Why SWIFT Remains Dominant Despite XRP’s Potential

Despite the emergence of innovative alternatives like Ripple’s XRP, SWIFT continues to dominate cross-border payments due to its entrenched position in the financial industry. Software engineer Vincent Van Code argues that most major banks rely on outdated technology dating back to the 1970s and 1980s, hindering their ability to transition away from legacy systems. He notes that even with advancements like SWIFT GPI, these core infrastructure remains largely unchanged, prioritizing stability and cost-effectiveness over radical innovation.