SWIFT Tests Blockchain for Faster Payments: Ripple’s XRP & Hedera’s HBAR Lead the Way

SWIFT is embarking on live trials of blockchain technology, with a focus on Ripple’s XRP and Hedera’s HBAR. These trials aim to integrate blockchain-based infrastructure into SWIFT’s existing payment network, potentially revolutionizing cross-border payments and tokenized asset transfers. The trials could significantly impact the altcoin market as a large portion of SWIFT’s $150 trillion annual transaction volume could shift towards blockchain. ^[1] SWIFT has been testing XRP and HBAR for their speed, cost efficiency, and scalability, which make them strong contenders for enabling these transactions.