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Ex‑SWIFT chief Tom Zschach bluntly denies any XRP partnership, while SWIFT rolls out its own blockchain with 17 major banks – a key update for crypto investors.
Tom Zschach, who spent six years as SWIFT’s Chief Innovation Officer, tweeted “not happening” to shut down circulating rumors that the global payments network would adopt Ripple’s XRP as a bridge currency [1]. The denial comes as SWIFT announced a new blockchain ledger being tested by 17 of the world’s largest banks, a system that uses tokenized bank deposits rather than any external crypto asset [1].
| At a glance | |
|---|---|
| Statement | “not happening” – XRP integration denied [1] |
| Catalyst | SWIFT’s rollout of its own blockchain with 17 banks [1] |
| Banks involved | Citi, HSBC, Wells Fargo, UBS, Standard Chartered, MUFG, etc. [1] |
| XRP’s role | No bridge token; banks will send tokenized deposits [1] |
SWIFT revealed that its newly built ledger, completed in nine months, will allow participating banks to move tokenized versions of their own fiat deposits 24 hours a day, eliminating the need for a third‑party bridge token such as XRP [1]. The consortium includes the same large banks that many XRP supporters hoped would adopt Ripple’s solution, yet they are now testing SWIFT’s internal platform. While two of the banks—Standard Chartered and UBS—maintain existing Ripple relationships, the current rollout does not involve XRP at any stage [1].
Despite the hype, Ripple already operates its own cross‑border payment corridors and has built a network of partners such as Santander and SBI, plus its dollar‑stablecoin RLUSD [1]. Its institutional arm, Ripple Prime, recently processed over $3 trillion in volume across 300 clients, indicating a functioning payments ecosystem that does not rely on SWIFT [1]. Zschach’s comment therefore removes a speculative catalyst but does not alter Ripple’s existing operations or XRP’s utility within those rails [2].
The denial underscores that SWIFT’s strategic focus is on enhancing its own infrastructure rather than integrating external crypto assets. For XRP holders, the token’s value now hinges on Ripple’s independent network and partner growth, not on a promised SWIFT partnership.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 12, 2026 · How we report
FX Empire forecasts a possible correction of up to 40%, targeting a price near $0.68 from current levels around $1.10.
AOL suggests that if the CLARITY Act passes, it could lock XRP’s commodity status, potentially enabling $3‑$5 price levels or higher if institutional demand materialises.
XRP is trading below its 20‑, 50‑, and 200‑day exponential moving averages, with a three‑day RSI near 39, indicating bearish momentum.
ETF holdings of XRP total approximately $1.48 billion, according to AOL.
AOL notes that RLUSD’s growth may divert usage away from XRP for payments, as banks prefer a stablecoin for cross‑border transfers.