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Ripple Presents XRP, RLUSD to Replace SWIFT’s Outdated Payment System
XRP is powering Ripple’s bold challenge to SWIFT’s outdated payment system, offering blazing-fast, low-cost, and transparent cross-border transactions through blockchain and stablecoin innovation.
Ripple Unveils XRP Solution While SWIFT Struggles With Outdated Payment Rails
Ripple shared in a blog post on May 28 that blockchain technology and the digital asset XRP could resolve many long-standing issues in cross-border payments, especially those linked to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.
The company emphasized the fragility of traditional rails, where outdated systems still rely on manual processes:
“Most cross border payments still rely on manual processes. A typo in an account number, an incorrect SWIFT code or incomplete payment instructions can all cause a transaction to fail.”
“Failed payments don’t just waste time, they also incur costs, create operational headaches and can strain relationships with partners or customers awaiting funds. Reducing manual touchpoints and increasing automation are key to minimizing these risks,” Ripple noted.
Ripple highlighted that these legacy systems, dependent on multiple intermediaries and correspondent banks, suffer from delays, errors, and lack of transparency. Payments often pass through up to five institutions before reaching the recipient—causing uncertainty and racking up fees.
This system, Ripple argued, is incompatible with the demands of modern global commerce. Issues like inconsistent messaging standards, foreign exchange markups, and regulatory complexity add to the inefficiencies and risks of international transactions.
Ripple Payments: A Blockchain-Based Alternative
In response, Ripple introduced its Ripple Payments platform—a blockchain-based system built as a modern, scalable solution to replace SWIFT’s outdated rails.
“Ripple Payments offers a cross-border stablecoin payment solution that is a modern alternative to traditional cross border payment rails,” the company explained.
Ripple’s solution uses XRP and the Ripple USD stablecoin (RLUSD) to enable fast, reliable, and affordable payments across borders. It provides real-time settlement, fee transparency, and lower operational risks, backed by a global payout network covering over 90% of the world’s foreign exchange markets.
While concerns about digital asset regulation remain, Ripple and other blockchain advocates argue that distributed ledger technology (DLT) is key to building a more efficient, inclusive, and future-ready financial infrastructure.
@ Newshounds News™
Source: Bitcoin News
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BRICS, Euro, & Bitcoin: Why US Dollar Opposition Has Never Been Greater
It’s been a challenging year for the United States, marked by rising macroeconomic pressures and geopolitical tension. Now, the future of the US dollar as the global reserve currency appears more uncertain than ever. With BRICS, the euro, and Bitcoin gaining momentum, opposition to the greenback has never been greater.
Euro, Bitcoin, & BRICS: Can the US Dollar Withstand All Three?
The BRICS alliance has made no secret of its ambition to challenge the dollar’s dominance, but it’s not alone in 2025. Bitcoin has emerged as a hedge against fiat volatility, while Europe is asserting the euro’s international potential more forcefully.
US Vice President JD Vanec recently asserted that Bitcoin does not compete with the US dollar. However, that stance was undermined by a report from Standard Chartered Bank, which projected that Bitcoin is poised to grow stronger as confidence in the dollar wanes.
This adds to the growing pressure on the Western currency. With BRICS ramping up de-dollarization, the euro vying for more global relevance, and Bitcoin rising to an all-time high, the challenges facing the dollar have reached a historic level.
Christine Lagarde Eyes Euro’s Global Role
In a recent report, European Central Bank President Christine Lagarde stated that the shifting geopolitical landscape could present the perfect moment for the euro to increase its international influence. She emphasized the opportunity for the euro to become a stronger competitor on the global stage, further eroding the dominance of the greenback.
Meanwhile, the BRICS coalition is continuing its long-term campaign to de-dollarize—favoring local currencies and regional trade. This strategy has only accelerated amid rising tariffs and protectionist policies from the US.
Bitcoin: Catalyst or Competitor?
Perhaps the most intriguing element is the role of Bitcoin. Ironically, the US itself has played a pivotal role in pushing the cryptocurrency to new heights—culminating in a record-breaking price this year. But as Bitcoin’s utility and appeal expand, it increasingly stands as a viable alternative to the US dollar, potentially undermining the very currency that helped boost its value.
With BRICS, the euro, and Bitcoin gaining global traction, the US dollar faces a perfect storm of competition unlike anything in recent history.
@ Newshounds News™
Source: Watcher.Guru
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