SWIFT Adopts Ripple’s Playbook — But Without Replacing Banks
SWIFT has announced a new global payments scheme to make cross-border transfers for consumers and small businesses as fast and predictable as domestic payments.
The initiative, revealed on January 29, will launch in phases in 2026, with a minimum viable product planned for the first half of the year. More than 40 banks are already involved in developing the framework.
Rewriting the rules: How Swift’s payments scheme will transform cross‑border payments
With the programme gaining further momentum, we're now working with over 40 banks from across the world. Together, we're setting a new global benchmark for predictable, transparent and reliable… pic.twitter.com/7iclI20ZhS
At first glance, the announcement reads like a routine infrastructure upgrade. In reality, it signals a strategic shift — and one that mirrors many of the problems Ripple has spent years highlighting.
SWIFT International Payments To Change DramaticallySWIFT’s new Payments Scheme targets consumer and SME-originated cross-border payments, an area traditionally plagued by slow delivery, unclear fees, and unpredictable exchange rates.
Under the scheme, participating banks will commit to a strict rulebook. These rules include upfront disclosure of fees and foreign exchange rates, guaranteed full-value delivery, and end-to-end visibility on payment status.
In simple terms, customers should know how much they are paying, how much the recipient will receive, and when the payment will arrive, before sending money.
At Swift, we continue to evolve the cross border payments experience – and adding a blockchain based ledger to our infrastructure stack marks an important step forward in that journey.
Why does embedding a shared ledger matter?
Thierry Chilosi , our Chief Business Officer,… pic.twitter.com/xzSXnNhZ0D
Cross-border retail payments have become a weak spot for banks.
Domestic payments in many countries now settle in seconds. International transfers still take days, pass through multiple intermediaries, and often lose value along the way.
Fintech firms and blockchain-based networks have exploited this gap. Ripple, in particular, has long argued that the existing correspondent banking model no longer meets modern expectations.
SWIFT’s announcement reflects growing pressure to close that gap.
SWIFT is working with 40+ banks on real-time cross-border settlement.
Their MVP launches H1 2026.
The irony? That's the exact promise crypto made years ago. SWIFT isn't replacing crypto — it's admitting the old model failed. Any asset that can't integrate with modern rails… pic.twitter.com/HgGNc3reci