SWIFT is moving forward with its blockchain-based cross-border payments infrastructure in cooperation with more than 40 global banks, with a live rollout targeted for mid-2026. In this framework, XRP is set to be included as an optional liquidity rail, meaning banks and payment participants may access it when needed, but its use will not be mandatory across the network.
Thunes opens access to Ripple payment products
A central part of the setup is Thunes, a payments company already integrated with SWIFT’s system. Through that connection, participating institutions can gain access to Ripple’s payment tools, including XRP-based on-demand liquidity services. The model gives financial firms a way to explore digital-asset-assisted cross-border settlement without requiring a full transition away from existing rails.
The reported benefit of XRP in this context is its role as a bridge asset, which can reduce reliance on pre-funded nostro accounts. That could improve capital efficiency in international payments. Still, the fact that XRP is available as an option points to potential structural demand rather than guaranteed payment volume or automatic adoption at scale.
ISO 20022 migration strengthens settlement infrastructure
SWIFT’s full migration to the ISO 20022 messaging standard in November 2025 is an important foundation for this initiative. The updated messaging framework supports richer data flows, which are increasingly necessary for digital asset settlement and more advanced payment coordination across financial institutions.
Because Thunes connects into SWIFT’s network, Ripple’s products may gain exposure across a system reaching over 11,000 banks worldwide. From a distribution perspective, that materially broadens the institutional pathway for XRP and places it closer to mainstream financial infrastructure than before.
XRP enters a multi-asset settlement race
Even so, XRP is not entering an exclusive lane. SWIFT has also tested USDC and tokenized assets, suggesting that its long-term direction may favor a multi-asset settlement environment rather than dependence on any single digital asset. That means XRP’s inclusion is strategically meaningful, but it does not eliminate competition from stablecoins and other tokenized payment instruments.
With major banks such as Bank of America and JPMorgan Chase involved in the broader initiative, SWIFT’s blockchain push signals a notable shift in cross-border payment infrastructure. For XRP, the development expands potential access to institutional payment flows, but whether that translates into sustained volume will depend on adoption decisions, regulatory conditions, and competition from alternative digital settlement assets.