SWIFT's Chief Innovation Officer questions whether XRP meets global banking settlement standards.

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Deep Tide TechFlow news, on September 5th, according to CryptoSlate, SWIFT Chief Innovation Officer Tom Zschach questioned whether Ripple technology and the XRP Token can meet the global banking cross-border settlement standards. Zschach pointed out that while some observers view XRP as a payment bridge, there are still doubts about whether banks will accept outsourcing the finality of settlement to an external token that is non-deposit, unregulated, and off-balance sheet.

He further stated that if tokenized deposits and regulated stablecoins reach scalability, banks may not choose to pay "tolls" to external assets like XRP, but would prefer to use their own issued and trusted tools for settlement. Regarding public blockchains, Zschach believes that the lack of a legal framework, privacy protection, and regulatory oversight, the "trust layer", is the reason banks continue to rely on SWIFT.

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