For decades, SWIFT has been the undisputed backbone of cross-border banking, facilitating trillions in global payments daily. But Ripple’s leadership believes the system’s inefficiencies have left room for disruption — and they’ve never hidden their ambition to step into that space.
A recent clip shared by Digital Asset Investor has reignited this conversation, highlighting Ripple’s co‑founder, Chris Larsen, and CEO Brad Garlinghouse, outlining nothing short of a takeover strategy.
Chris Larsen’s Vision
In the video circulated by Digital Asset Investor, Ripple co‑founder Chris Larsen described the company’s work as “a replacement for SWIFT in correspondent banking.” According to Larsen, Ripple’s approach centers on connecting payment providers and wallets through ILP, using XRP to provide on‑demand liquidity.
By doing so, financial institutions could avoid maintaining pre‑funded accounts across multiple jurisdictions — a system Larsen criticized as inefficient. “We think that’s a winning kind of killer app,” he added, positioning Ripple’s solution as a direct challenge to the current correspondent banking model.
I'm confused by all the Swift FUD. Ripple never said they were going to partner with Swift. They said they were going to replace or take it over. https://t.co/9VqGiCEbyC
— Digital Asset Investor (@digitalassetbuy) October 1, 2025
Brad Garlinghouse: From Competing to “Taking Over”
Ripple CEO Brad Garlinghouse reinforced this bold positioning, famously remarking in earlier interviews that Ripple is “taking over SWIFT.” In the same vein, he highlighted the company’s traction with global banks, pointing out that Ripple had already signed up over 100 financial institutions.
This language makes clear that Ripple sees itself less as a complementary partner to SWIFT and more as an outright competitor seeking to displace it.
The Technology Behind Ripple’s Ambition
At the core of Ripple’s strategy is ILP, a protocol designed to bridge disparate payment networks. Unlike SWIFT, which primarily functions as a secure messaging system for banks, ILP aims to route actual value across ledgers. When paired with XRP as an on‑demand liquidity asset, this infrastructure promises faster settlements and reduced reliance on nostro/vostro accounts.
Still, while ILP’s technical framework is sound, scaling it across thousands of global financial institutions remains a monumental challenge. Adoption depends on regulation, institutional confidence, and a willingness by banks to shift away from decades‑old systems.
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Adoption, Regulation, and Reality Check
Ripple has actively pursued steps to bolster its legitimacy in the financial sector, including applying for a U.S. national bank charter. These moves indicate a long‑term plan to further integrate with traditional banking systems.
However, while Ripple frequently cites its growing list of partners, independent verification of the scale of XRP‑based transaction volumes remains limited.
Analysts note that while Ripple has achieved notable pilot programs and partnerships, replacing SWIFT — with its network of over 11,000 institutions worldwide — is a marathon, not a sprint. The gap between bold executive statements and verifiable market dominance remains significant.
The Road Ahead
Ripple’s leaders have made it clear: their mission is not to work alongside SWIFT but to offer a superior alternative. Digital Asset Investor’s resurfacing of Larsen’s and Garlinghouse’s words underscores just how ambitious that mission is.
The real test, however, lies in execution. Verified bank adoption, transparent transaction data, and regulatory approvals will determine whether Ripple’s “killer app” evolves from vision to global reality. Until then, the debate around whether Ripple can truly replace SWIFT will remain one of the most‑watched storylines in the fintech and crypto landscape.
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