A June 2025 research paper has fueled ongoing debate in the XRP community, following claims by crypto analyst SMQKE that the study demonstrates successful testing of Ripple technology to enhance SWIFT’s financial network. SMQKE stated that Ripple had been evaluated under the Hyperledger framework using ISO 20022, suggesting compatibility with SWIFT’s infrastructure.
Research highlights and technical details
The paper details the development of a prototype blockchain network employing Hyperledger Fabric, an open-source enterprise blockchain platform. Developers implemented smart contracts using Go and Node.js, benchmarking the model’s performance against simulated SWIFT transactions with metrics such as speed, cost efficiency, security, and regulatory compliance.
Hyperledger Fabric v2.4 served as the foundation for the prototype. The testing dataset incorporated transaction logs from Ripple and Stellar testnets, aiming to measure processing times and compare outcomes with traditional SWIFT methods. According to the study, the new system reduced settlement times from about two days to a range of three to five seconds, and cut operational expenditures by 86.6%.
The researchers noted intentions to further explore interoperability with central bank digital currencies (CBDCs) and modern messaging standards such as ISO 20022. However, the paper does not claim that Ripple’s XRP Ledger directly powered the tested platform or that SWIFT plans to introduce Ripple into its live services.
Mini dictionary: Hyperledger Fabric is a permissioned blockchain framework designed for enterprise use, supporting highly modular and customizable network architecture.
| System | Settlement Time | Operational Cost Change |
|---|---|---|
| Traditional SWIFT | ~2 days | Baseline |
| Hyperledger Fabric Prototype | 3–5 seconds | -86.6% |
Community response and clarifications
Despite SMQKE’s claims, several community members offered alternative interpretations. A user named Red challenged the idea that the study demonstrated Ripple’s integration with SWIFT, emphasizing that Ripple and Stellar data only provided historical benchmarks for testing, and neither blockchain was directly deployed in the prototype.
Red further explained that researchers developed and evaluated their own blockchain infrastructure, rather than utilizing Ripple’s XRP Ledger or Stellar’s network within the prototype. He questioned any assertion that the paper supports a real connection between Ripple and SWIFT integration.
Red expressed concern that overstating undocumented ties between Ripple and SWIFT may undermine credibility and distract from ongoing work within the XRP Ledger ecosystem.
The commentary underscored the need to distinguish between experimental studies, the use of datasets for benchmarking, and concrete plans for commercial deployment by industry stakeholders.
Previous official statements on SWIFT and Ripple
The current discussion echoes earlier speculation about SWIFT’s potential use of Ripple’s XRP. Previous reports featured comments from Tom Zschach, former Chief Innovation Officer at SWIFT, who directly dismissed rumors that SWIFT would support public tokens such as XRP in lieu of building a proprietary digital solution for banks.
Responding to the suggestion that SWIFT would incorporate XRP or similar assets, Zschach replied, “Not happening.”
These ongoing discussions highlight the importance of verifying technical claims about partnerships and integrations within the evolving landscape of blockchain-based financial systems. Investors and observers remain attentive to official developments from Ripple, SWIFT, and their partners.
