Ripple Targets SWIFT with XRP to Onboard 1540 Banks

Ripple aims to challenge SWIFT and attract 1,540 banks with its XRP. This move positions Ripple as a serious competitor to traditional banking networks, aiming to significantly expand its global banking partnerships. By targeting SWIFT, Ripple seeks to leverage its blockchain technology to offer faster and cheaper cross-border transactions, appealing to a broad range of financial institutions. The strategy to onboard numerous banks demonstrates Ripple's commitment to establishing itself as a key player in international banking and financial infrastructure. The success of this initiative could facilitate broader adoption of XRP in global finance, potentially impacting traditional payment systems. However, challenges remain, including regulatory scrutiny and the need for banks to trust blockchain-based solutions over established systems. Overall, this development signals Ripple's aggressive push to increase its banking footprint and challenge longstanding global payment networks.