TechFlow news, September 5 — According to CryptoSlate, SWIFT's Chief Innovation Officer Tom Zschach has questioned whether Ripple's technology and the XRP token can meet global banks' standards for cross-border settlement. Zschach pointed out that although some observers view XRP as a payment bridge, it remains uncertain whether banks will accept outsourcing settlement finality to an external token that is non-deposit, unregulated, and off-balance-sheet.
He further stated that if tokenized deposits and regulated stablecoins achieve scale, banks may prefer using their own issued and trusted instruments for settlement rather than paying a "toll" to external assets like XRP. Regarding public blockchains, Zschach believes the lack of legal frameworks, privacy protection, and regulatory oversight—the so-called "trust layers"—is why banks continue to rely on SWIFT.
