SWIFT has started testing Ripple’s XRP Ledger and Hedera’s Hashgraph for blockchain-based cross-border payments to optimise efficiency and interoperability.
The goal of these tests is to improve the integration of blockchain technology with existing banking systems. Additionally, using ISO 20022 guidelines could transform the way money is transferred and received globally.
Both XRP and HBAR are designed for fast, scalable, and energy-efficient cross-border payments. XRP is known for having almost instant settlement times and support from the banking sector. According to the company, it handles about 1.500 transactions per second with minimal energy consumption.
Additionally, HBAR uses a hashgraph consensus method to allow more than 10.000 transactions per second while using the same small amount of energy and having effective corporate governance.
The evaluation of these assets aims to optimise asset transfer and the use of tokenization within the global financial landscape. This initiative offers potential benefits not only for SWIFT but also for XRP and HBAR, as increased standardisation and validation from institutions can optimise their adoption.
Growing institutional and regulatory interest in blockchain
These trials indicate a growing recognition among institutions of blockchain’s utility in financial processes. Additionally, according to the analysis, they illustrate how blockchain-based solutions can interoperate and be progressively integrated.
Although SWIFT has not affirmed that it will use any specific blockchain technology in the long term, it is testing multiple platforms, highlighting the industry's dynamic nature and the importance of adaptability. These tests show an important step towards connecting old-fashioned banking with modern digital infrastructure.
Stablecoin adoption in Japan
In August 2025, Ripple and SBI Group announced a new MoU for SBI VC Trade, which outlined their intention to distribute Ripple USD (RLUSD) in Japan. With this in mind, the partnership drove stablecoin utility in Japan, while also accelerating its developments in the overall industry.
