The post Is SWIFT Integrating XRP Through EastNets? Expert Explains appeared on BitcoinEthereumNews.com.

Recent speculation within the XRP community has sparked discussions about a possible SWIFT-XRP integration through EastNets, a SWIFT Certified Service Bureau. In a tweet, prominent XRP community figure WrathofKahneman provided a closer look at the subject. He clarified that while Ripple’s technology is being used within SWIFT-connected platforms, direct XRP integration has not been confirmed. The Origin of the Buzz: EastNets’ PaymentSafe Platform The buzz began with a community post highlighting EastNets’ PaymentSafe platform, which appears to facilitate Ripple-based messaging within SWIFT’s framework. Some reports speculated that this could mean XRP is being processed through SWIFT. However, the actual implementation tells a different story. For context, EastNets is a third-party service provider that helps financial institutions access SWIFT’s global messaging network. Like Accenture and ACI Worldwide, EastNets offers infrastructure, compliance solutions, and message translation services, enabling banks to operate efficiently within SWIFT’s ecosystem. Essentially, SWIFT Certified Service Bureaus (CSBs) like EastNets handle the technical complexities of connectivity, compliance, and messaging protocols. They ensure institutions can send and receive messages using SWIFT’s standardized formats (ISO 20022), which is essential for cross-border payments. Meanwhile, EastNets’ PaymentSafe platform caught the attention of the XRP community. Some have speculated that it could facilitate XRP data processing within SWIFT’s framework. This speculation followed a video from an EastNets representative discussing PaymentSafe, which highlighted Ripple in the conversation. However, the diagram shown in the video positions Ripple and SWIFT as parallel systems, much like ACH, rather than suggesting full integration. No Direct XRP-SWIFT Integration Yet While the connection sparked intrigue, WrathofKahneman is cautious about jumping to conclusions. He clarifies that while EastNets’ platform can support Ripple’s messaging technology. Yet, this does not equate to direct XRP integration within SWIFT’s services. The community figure emphasized that the references to Ripple in the video actually highlight Ripple’s messaging…

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Filed under: News - @ February 8, 2025 5:23 pm