Japan Bank Association "XRP, transfer confirmed in 4 seconds"... Is the SWIFT era ending?

▲ XRP, JPY/AI-generated image

XRP is emerging as a practical alternative that can replace the existing international remittance system, increasing the possibility of restructuring the global payment market.

According to The Crypto Basic, a cryptocurrency specialized media outlet, on April 11 (local time), a major Japanese bank association confirmed that an XRP-based payment system reduces costs by 60% and shortens payment time to within 4 seconds compared to the existing SWIFT system. This is seen as proof that Ripple's technology is efficient in a real financial infrastructure environment.

The existing SWIFT network takes an average of 2-5 days for international remittances. The burden of fees also increases due to the structure involving multiple intermediary banks. In contrast, XRP processes real-time payments on a single network, significantly widening the gap in terms of speed and cost. A Japanese banking official explained, “XRP supports instant payments at low costs and is structured to increase the capital efficiency of financial institutions.”

The Japanese financial sector is already expanding remittance services using the XRP Ledger. Centered around SBI Group, the scope of services is being expanded to major Southeast Asian countries. SBI Remit has accumulated actual achievements by utilizing XRP as a bridge currency in major remittance markets such as the Philippines, Vietnam, and and Indonesia.

Ripple is strengthening cooperation with financial institutions in the Asia-Pacific region and expanding its influence. With the launch of RLUSD, ecosystem liquidity is also improving. The Japanese case is considered a benchmark showing the possibility of adoption by financial institutions in other countries.

The adoption of XRP by Japanese banks is serving as a catalyst for accelerating changes in the international remittance structure. As payment speed and cost efficiency improve simultaneously, a structure that provides practical benefits to both businesses and individuals is being formed.

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