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Vet (Hussein Zangana), who is the Director of Community at the XRPL Foundation, urges the XRP community to shift away from false narratives about a potential Swift integration and instead focus on the real developments taking place across the XRP ecosystem.
"A lot is happening with XRP and the XRP Ledger, we don't need to make up this nonsense," Vet said in a recent X post outlining various developments on the XRP Ledger. These include "security improvements, on-chain loans, stablecoins and FX market to compliant trading capabilities with permissioned Domains." Vet also highlighted ongoing work to bring onchain privacy to the XRP Ledger.
Vet said that these developments are accompanied by significant efforts to onboard institutions and consumers and scale adoption, adding that there is still a lot of work to do.
"SWIFT is not using XRP," Vet said, debunking false claims being peddled by a few XRP influencers of such an integration. He suggested blocking individuals who say that SWIFT is already using XRP or will definitely do so in the future.
This week, Ripple received authorization of its Crypto Asset Service Provider (CASP) license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). The authorization confirms Ripple as fully MiCA-compliant, with its solutions underpinned by XRP and RLUSD made available to financial institutions, corporates, and businesses across all 30 countries of the European Economic Area.
Swift not using XRP
Swift announced this week that its blockchain-based ledger was ready for use to pilot 24/7 tokenized cross-border payments. This announcement created a buzz in the XRP community, with some falsely claiming the global messaging network is exploring an XRP integration.
Former Swift exec Tom Zschach pushed back on this claim in recent responses on X.
"None of this is evidence that Swift will use XRP," Zschach said in response to an X user who claimed that Swift will use XRP, sharing screenshots of cryptocurrencies compatible with ISO 20022.
"It shows crypto projects adopting the ISO 20022 messaging format, an open standard Swift does not own, while confusing a message syntax with a settlement asset that Swift, a network that never touches the value leg and has no architectural slot for. Waiting," Zschach stated.
Dan Burgin
U.Today Editorial Team
