Ripple Treasury Expands as SWIFT Pilot Sparks XRP Debate
- Ripple Treasury expands enterprise finance with GTreasury integration.
- Fishy Catfish says the SWIFT pilot relies on tokenized deposits, not XRP.
- SWIFT will test DLT-based cross-border payments with major banks.
Ripple Treasury is drawing renewed attention as SWIFT prepares to test distributed ledger technology for international payments across participating financial institutions. The initiative follows Ripple Treasury’s entry into the SWIFT Certified Partner Program in April 2026, strengthening Ripple’s enterprise payment strategy. While the announcement lifted market interest, analysts remain divided over whether Ripple Treasury and the SWIFT pilot will translate into stronger demand for XRP. At press time, XRP traded around $1.09, posting modest daily gains.
Ripple Treasury Builds Enterprise Tools as Analysts Debate XRP
Ripple Treasury combines Ripple’s blockchain infrastructure with GTreasury’s enterprise treasury software to help businesses manage liquidity, reconciliation, payments, cash forecasting, and risk management from a single platform. GTreasury also stated that it continues to invest in engineering, AI-powered analytics, and automation, following the expansion of its reconciliation capabilities through the Solvexia acquisition.
Despite the positive developments, analyst Fishy Catfish argued that investors should not assume the SWIFT initiative is directly bullish for XRP. According to the analyst, the pilot relies on tokenized bank deposits rather than XRP as the bridge asset. In this model, tokenized fiat serves as the settlement and liquidity layer, while the blockchain’s native token is mainly used to pay small network fees.
SWIFT Pilot Focuses on Tokenized Deposits Across Banks
According to SWIFT, the pilot will examine whether distributed ledger technology can improve cross-border payments between participating banks. Standard Chartered and UBS are among the institutions involved, both of which already maintain business relationships with Ripple through crypto custody services or payment infrastructure built on the XRP Ledger.
The pilot represents another step in Ripple’s broader enterprise strategy through Ripple Treasury, but its payment design has sparked discussion about XRP’s role in institutional settlement. While Ripple continues to expand its financial infrastructure, market participants remain focused on whether future banking integrations will create direct utility for XRP or primarily rely on tokenised deposits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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