IBM Integrates with Swift, Potentially Reducing Demand for XRP

The Swift cooperative, founded in 1973, has been adapting to new technologies, including blockchain. Recently, IBM announced its Digital Asset Haven platform can now plug into Swift's shared blockchain ledger, enabling 17 pilot institutions to move tokenized deposits around the clock.

This integration is bad news for XRP investors, as it provides a bank-friendly alternative to using XRP as a bridge between currencies. Instead of relying on XRP, banks can use Swift's existing network and keep their money on their own balance sheet.

IBM's involvement also puts pressure on Ripple, which is leaning away from its own XRP token in favor of the stablecoin RLUSD for settlement purposes.