SWIFT’s Chief Innovation Officer, Tom Zschach, has sharply criticized Ripple’s governance approach, questioning its resilience and lack of neutral control. Zschach highlights the need for a shared governance model in financial infrastructure, arguing that SWIFT’s decentralized structure offers greater stability than Ripple’s closed system. He cites SWIFT’s established compliance framework and thousands of participating banks as key advantages over Ripple’s centralized approach. Zschach suggests that the lack of transparency in Ripple’s governance could hinder its future expansion within the financial sector, where regulatory clarity and compliance are paramount. He also questions the long-term sustainability of Ripple’s decentralized model, questioning whether it can withstand the pressures of the finance industry. Meanwhile, Zschach has hinted at potential developments regarding the rivalry between SWIFT and Ripple through cryptic tweets referencing his past commentary on their competition. This foreshadowed a significant discussion expected to unfold during the Sibos conference in 2025.