thecryptobasic.com
A new discussion has emerged in the $XRP community about whether Ripple Payments is quietly becoming a faster alternative to the global banking messaging giant SWIFT.
In a recent interview, Paul Barron and crypto executive Jake Boyle discussed how Ripple Payments is transforming backend operations for a major brokerage—and what that could mean for $XRP holders.
Key Points
- Ripple Payments is emerging as a faster alternative to legacy bank rails like SWIFT.
- Caleb & Brown’s CCO Jake Boyle says the firm now processes hundreds of USD withdrawals in minutes, not hours.
- High wire fees and slow transfers created friction, but Ripple’s system streamlines backend settlement.
- Growing adoption of Ripple Payments strengthens $XRP’s utility narrative in global finance.
Ripple Payments Provides SWIFT-Like Technology
Jake Boyle, Chief Commercial Officer at Caleb & Brown, confirmed that the firm has integrated Ripple Payments into its operations.
He explained that since launching in 2016, Caleb & Brown has relied on innovative crypto infrastructure for trading and custody. However, like many crypto businesses, it still depended on traditional banking rails for fiat transfers.
That meant wire transfers, $35 fees to send $1,000, and long processing times, all while trying to scale a modern crypto platform. According to Boyle, this disconnect between crypto speed and legacy banking created operational friction.
With Ripple Payments, that friction is shrinking. Boyle described it as “better SWIFT technology.” In his words:
“With Ripple Payments, we’ve been able to capitalize on better SWIFT technology such that our accounting team can just click through and process hundreds and hundreds of U.S. dollar withdrawals in a matter of minutes instead of hours.”
Bridging Crypto Speed and Traditional Banking
Boyle described Ripple Payments as a bridge between the speed of blockchain systems and the reality that U.S. dollars still move through traditional banking networks.
Instead of manually processing withdrawals for hours, the brokerage’s accounting team can now execute hundreds of U.S. dollar withdrawals in minutes.
For customers, whether they hold $XRP, Bitcoin, or other assets, the change is simple: funds arrive significantly faster.
During volatile market periods, speed matters. Traders want to move dollars with the same efficiency as crypto. Boyle noted that a $20,000 withdrawal can now arrive much faster than a typical bank wire, improving both customer satisfaction and internal efficiency.
Is Ripple Payments Becoming the “New SWIFT”?
Barron suggested that this infrastructure shift could represent the alternative to SWIFT’s legacy rails that many in the crypto industry have long anticipated.
While SWIFT has been upgrading its own systems, Ripple Payments is offering crypto-native firms a practical solution today.
Rather than replacing banks outright, Ripple’s system works alongside them, enhancing settlement speed and reducing operational bottlenecks.
What This Means for $XRP
Although Boyle did not frame the integration as directly impacting $XRP’s price, the development strengthens the utility narrative surrounding Ripple’s ecosystem.
Faster fiat settlements, streamlined accounting, and scalable withdrawal systems all contribute to a more efficient cross-border and brokerage infrastructure.
If more financial platforms follow Caleb & Brown’s path, Ripple Payments could become a serious competitor to traditional banking rails, quietly evolving into a modern alternative to SWIFT.