Ripple Takes Aim at SWIFT with New Payment Infrastructure
Pantera Capital's founder and CEO, Dan Morehead, has highlighted Ripple's ambitions in cross-border payments. In an interview on CNBC's Squawk Box, Morehead stated that Ripple is positioning itself as a competitor to SWIFT, the global network for cross-border payment instructions.
SWIFT serves as the dominant platform for global banking, but Ripple has been building infrastructure to offer faster and cheaper settlement alternatives. Morehead noted that Solana could reach 9 billion transactions per day, but emphasized that other use cases, like Ripple's pursuit of SWIFT, are also significant.
Ripple's partnership with banks and payment providers has long been seen as a catalyst for XRP's value. However, the token's price has faced pressure due to the Securities and Exchange Commission's lawsuit against Ripple, which alleged that XRP was an unregistered security.