Former SWIFT Exec Denies Rumors of XRP Integration With Global Payment Network

Former SWIFT Chief Innovation Officer Tom Zschach dismissed rumors of XRP integration with the global payment network in a two-word post on X: "Not happening." The denial came on July 10, 2026, after speculation spread on crypto social media. Zschach, who led SWIFT's digital asset strategy for six years, stated that SWIFT is developing its own blockchain-based shared ledger for tokenized deposits, not relying on XRP. The pilot involves 17 major banks including HSBC, Citi, UBS, MUFG, DBS, and Wells Fargo, with a live transaction version targeted for later in 2026. Rumors persist partly because some pilot banks like Standard Chartered and UBS also work with Ripple, and Ripple Treasury joined SWIFT's certified partner program. Zschach has previously corrected similar misconceptions. XRP traded near $1.09 with a market cap of $69 billion and daily volume over $1 billion.