The persistent speculation that the global financial messaging network SWIFT will integrate or support the Ripple-linked XRP token has been swiftly shut down by the organization's former top technology official.
Tom Zschach, who recently stepped down after serving six years as SWIFT's Chief Innovation Officer, took to Elon Musk's X social media platform to refute the aforementioned claims (to the chagrin of the asset's holders).
Yet another unsubstantiated XRP rumor
Earlier this week, several XRP influencer accounts started claiming (without any evidence) that SWIFT intends to support established public tokens such as XRP instead of developing its own proprietary token
One user alleged that the global messaging network, which has long been viewed as a Ripple competitor, explicitly stated it "does not intend to compete with projects like XRP" and would instead "collaborate and support them."
Zschach, who was in charge of SWIFT's digital asset strategy during his tenure, quickly put the rumor to rest by simply stating that the integration is not going to happen. He also jokingly asked Grok, the AI assistant developed by SpaceXAI, to clarify whether the messaging network actually uses XRP.
Anti-XRP sentiment
The former SWIFT executive has been a vocal critic of the enterprise blockchain firm. He has previously questioned the utility of the XRP token and its decentralization.
Notably, he previously dismissed Ripple's technology by comparing it to a "fax machine" in the modern era of the internet.
Furthermore, Zschach has argued that Ripple's survival of its much-talked-about legal battle with the U.S. Securities and Exchange Commission, which had lasted for years, does not constitute actual institutional resilience.
Zcash's recent exit
Zcash has a rather notable career in traditional finance. He has worked at major institutions such as Bank of America, Barclays, and Lehman Brothers.
After recently leaving Swift, he joined a team of researchers from Oxford, Harvard, and Cambridge to build new infrastructure that will combine artificial intelligence and traditional finance.
Dan Burgin
U.Today Editorial Team
