- RippleNet’s real-time settlement challenges SWIFT’s traditional messaging system by offering faster, cheaper transactions.
- The hacked Watcher Guru post falsely claimed SWIFT and Ripple were collaborating, causing confusion in the XRP community.
- Speculation grows over SWIFT adopting DLT, with Ripple positioning itself as a key player despite regulatory scrutiny.
Vincent Van Code recently shared insights on the ongoing SWIFT vs Ripple debate. He highlighted the fundamental differences between both systems. SWIFT operates as a messaging network, facilitating secure payment instructions between banks but not moving money directly. It relies entirely on the liquidity of individual banks.
However, a real-time settlement method is offered by RippleNet. It enables quick and affordable cross-border transactions with stablecoins and XRP. The industry increasingly recognizes the benefits of Distributed Ledger Technology (DLT), when previously many viewed Ripple as a direct rival to SWIFT. Transactions can now be completed more quickly, transparently, and economically thanks to this invention.
The Strategic Evolution of Ripple
One of the mainstays of American financial power for a long time was SWIFT. Economic sanctions and geopolitical strategy have been influenced by its infrastructure. However, DLT offers an alternative that could revolutionize the financial landscape.
A major point of speculation is whether SWIFT will integrate DLT. This upgrade would require a scalable, liquid, and optimized blockchain network. Ripple has strategically positioned itself for this possibility. The company has worked to build traction in the financial industry while ensuring compatibility with SWIFT’s system.
In parallel, Ripple may have engaged in early discussions with institutions, including SWIFT. U.S. regulators could have intervened to assess the impact on USD dominance. The SEC lawsuit against Ripple might have been a strategic move in this broader narrative.
Watcher Guru’s Hacked Post Creates Market Chaos
Amidst ongoing speculation, Watcher Guru’s official X account was hacked. A false report claimed SWIFT and Ripple were finalizing a deal to use XRP globally. The post suggested billions of XRP were locked in escrow as liquidity reserves.
The misleading post gained rapid traction within the XRP community. Bitrue, a pro-XRP exchange, mistakenly amplified the false information. Watcher Guru later clarified that the post was unauthorized.
The attack also affected Watcher Guru’s Telegram, Facebook, and Discord accounts due to automated reposting. The hacker even blocked Ripple’s official X account and CEO Brad Garlinghouse. This move delayed an immediate response from Ripple’s team.
