SINGAPORE — Ripple CEO Brad Garlinghouse is betting big on XRP’s
XRP$2.14 role in the future of cross-border payments, saying the token could capture 14% of the volume carried by SWIFT, the global interbank messaging network, within five years.
Speaking at the XRP APEX 2025 event in Singapore on Wednesday, Garlinghouse framed the prediction around XRP’s utility in transferring funds internationally.
“There are two parts to SWIFT today: messaging and liquidity,” Garlinghouse said. “Liquidity is owned by the banks. I think less about the messaging and more about liquidity. If you're driving all the liquidity, it is good for XRP … so I’ll say five years, 14%.”
SWIFT dominates interbank messaging for cross-border transfers, telling banks where to send money, but doesn't actually move the funds. If a person transfers money from a U.S. bank to one in Europe, messages are sent on SWIFT to coordinate the transfer. The cash takes longer to arrive, often relying on multiple intermediaries, which can make the process slow and expensive.
Ripple is angling to compete on the liquidity layer, arguing that the ability to move capital seamlessly, not just communicate transactions, will let it gain market share. Instead of just sending a message, Ripple’s system moves both the message and the money using blockchain technology.
XRP acts as a bridge currency, converting money instantly from one currency to another, and reducing the need for banks to hold funds in foreign accounts.
