Swift Integrates with IBM, Further Threatening XRP's Use in International Payments

IBM has integrated its Digital Asset Haven platform with Swift's shared blockchain ledger, allowing banks to send tokenized deposits around the clock without needing XRP tokens or the Ripple network.

The integration is part of Swift's efforts to modernize its payment system and provide a more bank-friendly alternative to Ripple. Tokenized deposits, which are essentially digital versions of cash, can be sent directly between banks on the Swift ledger, eliminating the need for intermediaries like XRP.

Ripple's payment volume has been soaring, but the company is increasingly settling transactions using its own stablecoin, RLUSD, rather than XRP. This shift could further erode demand for XRP and put pressure on Ripple's business model.