Solving the $155 trillion global payment issue has been the target of at least two popular altcoins, Ripple (XRP) & Hedera Hashgraph (HBAR). During the Hedera conference in Denver, USA half a year ago, SWIFT revealed to be testing out the Distributed Ledger Technology (DLT) on their half-a-decade old financial system to meet merchant expectations.
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SWIFT’s Head Of Industry Engagement Alisa DiCaprio noted that most merchants will expect to settle international transfers in less than an hour by 2027. To fulfill the need, blockchain integration will become inevitable, as the financial conglomerate still requires a time window up to 4 business days to process global deals.
XRP Ledger’s Big Play In Global Economy
Meanwhile, Ripple’s CEO Brad Garlinghouse previously mentioned working along with regulators to become a major player in the $155 trillion cross-border transaction market. One of the key reasons behind this is the new crypto-curious team at the U.S. Securities and Exchange Commission (SEC).
Paul Atkins’ team is looking to settle with crypto companies instead of the usual punishment strategy imposed by the previous SEC boss Gary Gensler. Besides, Ripple CEO Brad Garlinghouse said “in a world of hype & experimentation” XRP is the only asset “really poised to solve the problem at scale – the global payments problem”.
XRP Or HBAR: What Will SWIFT Pick?
Based on current usage, Ripple’s XRP Ledger frontruns in cross-border transactions, shuffling billions of dollars in trading volume per day. Entrance into the SWIFT $155 trillion market is also realistic due to the network handling approximately 1.5K transactions per second (TPS).
In contrast, Hedera’s HBAR sports a capacity of 10K transactions per second, but the present daily trading volume dances around the $100 million line, nearly 20 times less than Ripple (XRP). As of press time, both SWIFT candidates XRP & HBAR inked 2% gains in 24 hours.
The price of XRP continues to stand above the $2.25 support territory, while Hedera (HBAR) approaches a new 7-day high, trading slightly above $0.17, according to independent price aggregator CoinGecko.
Ripple’s XRP is built for fast, cheap cross-border payments, while Hedera’s HBAR uses hashgraph tech for high-speed, low-fee transactions. Both are eyeing SWIFT’s $155T payment market to streamline global transfers.
SWIFT wants faster, cheaper global payments, and both XRP’s blockchain and HBAR’s hashgraph offer solutions to replace or enhance its outdated system. They’re being tested for real-world efficiency.
XRP focuses on bank-friendly, instant cross-border transfers via RippleNet, while HBAR supports enterprise apps with ultra-low fees and high throughput. Each has unique strengths for SWIFT’s needs.
No confirmed partnership exists, but both are in talks and testing phases, with Ripple’s XRP having more bank integrations and HBAR gaining enterprise traction.
XRP’s established bank partnerships give it a lead, but HBAR’s faster, energy-efficient tech is catching up. It’s too early to call a winner—both are strong contenders.
