XRP vs. SWIFT Speed Test: Ripple’s Instant Transactions Challenge 5-Day Waits — Is It Time to Replace the 51-Year-Old System?

Today in XRP news, we have a significant development related to Ripple’s role in international payments. In a recent interview, Ripple CEO Brad Garlinghouse clarified how the XRP token can improve and replace the SWIFT system. Additionally, when we compare XRP vs SWIFT, we find significant enhancements which the Ripple payment system can provide. Garlinghouse stressed the potential of the payment processing sector and its value. “The market opportunity here is massive, you’ve got trillions of dollars that are flowing cross-border globally and are still dominated by Swift,”. As such, let’s compare and see if XRP is really better.

XRP vs. SWIFT: The Battle of Old Tech vs. Digital Innovation

One of the main comparisons that comes to mind is the age of each system and its modernity. Every year we see an innovation in the finance sector, so a new system makes a big difference. An age comparison between XRP SWIFT shows XRP with only 13 years as the obvious choice rather than the 51-year-old SWIFT. Likely because of this age and lack of updates, this system does not fit the current digital economy. SWIFT, which stands for the Society for Worldwide Interbank Financial Telecommunication, has become obsolete. There are also rumors that Ripple will be adding to and upgrading this system instead of replacing it.

JUST IN: SWIFT nearing agreement with Ripple to use #XRP for cross-border payments, with billions of $XRP secured in escrow as liquidity reserves.

IF THIS IS TRUE WE ARE GOING TO $10,000+ pic.twitter.com/iQVXb6ejAQ

— Ripple Queen (@Ripple_queen) April 1, 2025

On the other hand, the Ripple payment system has been built to enhance digital finance. This system uses the XRP token to facilitate international payments, placing itself in the center of the digital economy. Additionally, this system is growing and being updated daily, which turns it into a near-limitless solution. One example is the recent introduction of its RLUSD, which makes transactions even more straightforward and simple. Additionally, this system delivers high-speed transactions while charging small fees. As such, thousands of financial institutions are already looking for a more efficient replacement for SWIFT.

A Speed Test Between SWIFT and Ripple

To give a direct comparison between the two payment systems, we should take a detailed look. First, to compare XRP SWIFT speed, we can see that XRP comes out as the clear winner. Ripple payment system takes only seconds to process any transaction of any size, while SWIFT takes 1 to 5 business days. Additionally, the settling times for the SWIFT system can be even longer based on various variables. For instance, time zones, intermediary banks, and currency conversion can create even further delays. 

Cost of Transanctions: XRP’s Pennies vs. SWIFT’s Pile-Up

The next feature we need to compare between XRP SWIFT payment systems is their fees and additional costs. XRP payments usually only take small predetermined fees. For example, Michael Arrington transferred $50 million with a $0.30 fee. When we take a look at how much SWIFT transactions can cost in fees, we can see a significant problem. This is because even calculating such fees for SWIFT is complex and frustrating.

For example, each sending or receiving bank has its own fees, which are dependent on the country and corporate policy. Additionally, there could be intermediary banks involved, which also have varied fees. There are also additional fees charged based on the complexity of a service. For example, if the client wants to cancel the transaction or recover it, each bank can charge varied fees. Finally, there are also exchange fees if you change currencies; you will be charged a percentage or predetermined amount. 

The End of SWIFT? XRP’s Rise in a Fast-Paced World

With this detailed comparison, it is clear that the SWIFT is an unfitting system for today’s fast and efficient world. Certainly, this fact is also clear to many bankers and executives around the world. This makes it likely that we will be hearing XRP news of explosive adoption and inclusion soon. However, to reach that point, Ripple must continue improving and innovating its payment system.