Ripple aims to capture 20% of SWIFT’s $150 trillion annual transaction volume, targeting $30 trillion flowing through XRP Ledger yearly.
Previous projections aimed for 14% of SWIFT’s volume within five years, equating to $21 trillion annually.
SWIFT critic Vincent Van Code suggests SWIFT might adopt XRP and Ripple for interbank payments as an alternate settlement layer.
XRP Ledger offers near-instant settlement and low transaction fees compared to SWIFT’s slower and costlier system; SWIFT has shown openness to blockchain technology, testing interoperability with Chainlink in 2022.