The Quiet Battle Over Cross-Border Payments: Ripple, SWIFT, and Visa's Strategies
— 24/7 Wall St
Ripple, SWIFT, and Visa are intensifying their competition in cross-border payments.
Ripple, SWIFT, and Visa are competing in the cross-border payments space; Ripple connects over 300 financial institutions on the ISO 20022 standard while SWIFT develops its own blockchain ledger.
- Ripple connects over 300 financial institutions on the ISO 20022 standard, directly competing with banks' established systems.
- SWIFT is developing a blockchain-based payment ledger set to launch in 2026, merging messaging and settlement for the first time in its 50-year history.
- Visa is settling bank obligations in stablecoins at a $7 billion annual rate by 2026, transforming its card business into a stablecoin settlement operation.
The competition among SWIFT, Visa, and Ripple could impact market dynamics through innovative solutions and technological advancements in cross-border payments.