Ripple Senior VP Says Ripple Is Building a SWIFT-Like Update or Replacement

The Ripple SVP of Strategic Initiatives, Eric van Miltenburg, recently discussed the company’s efforts to revolutionize global financial infrastructure.

Specifically, Miltenburg noted that Ripple is setting itself up as an alternative to SWIFT. He shared this perspective while speaking at a panel during the 2025 World Economic Forum in Davos.

XRP community figure Crypto Eri recently drew attention to Miltenburg’s statement in a tweet. This follows ongoing debate in the community about Ripple’s expanding role in global payments amid the company’s new acquisition.

Ripple’s Infrastructure: A Modernized Alternative to SWIFT

During the panel discussion, Eric van Miltenburg emphasized Ripple’s role in providing critical infrastructure for cross-border payments. Describing Ripple’s product, van Miltenburg stated that Ripple aims to be a “SWIFT update or replacement.”

He also highlighted the company’s ongoing efforts to work closely with customers while ensuring regulatory compliance. According to van Miltenburg, Ripple has been adapting to the evolving needs of its customers, particularly those from traditional financial institutions, which are increasingly embracing faster innovation and more agile operations.

Eri commented on the panel clip, noting that Ripple’s ambitions regarding SWIFT appear more competitive than collaborative. Reflecting on her own history with SWIFT since 2019, she said, “They (SWIFT) never liked the Ripple/XRP narrative.”

Notably, the idea of Ripple working with SWIFT has been a hot topic in the XRP community. In her commentary, Eri addressed speculation that Ripple’s payment infrastructure might work in tandem with SWIFT or that the two systems could complement each other.

The topic regained traction after Ripple’s recent acquisition of Hidden Road, which some believe could lead to integration with traditional payment systems.

Instead, Eri interprets van Miltenburg’s remarks as a clear signal that Ripple envisions itself as a SWIFT alternative, not a supplement.

Likewise, XRP analyst Arthur argues that Ripple’s core mission has always been to replace SWIFT, not partner with it. He stressed that the acquisition of Hidden Road is even a move to bypass legacy systems like SWIFT. Moreover, Arthur claims that SWIFT could even be a liability due to its role in global sanctions and centralized control.

Clarification on XRP Role in Cross-Border Payments

Furthermore, Eri clarified a common misconception around XRP’s role in Ripple’s payment processes. She explained that while XRP is a core feature of the Ripple Payments system, the company seeks to offer customers what they want.

Whether it’s XRP, USDC, or USDT, Ripple ensures that its platform accommodates the specific needs of its users. Eri emphasized that XRP is not always necessary for certain transfers, particularly those involving USDT or other stablecoins. In cases of direct transfers, adding XRP would only introduce unnecessary complexity and costs.

Ripple’s platform seeks to facilitate straightforward transactions without requiring intermediary steps such as introducing XRP into every transfer. In essence, XRP use is an option in Ripple’s payment transactions.

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