SWIFT’s Linea-based ledger challenges Ripple’s XRPL. Can neutral rails for banks outcompete native token settlement powered by XRP?
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Ripple CEO Brad Garlinghouse addressed concerns from the XRP community after SWIFT’s recent announcement about entering blockchain technology. The update came in an exclusive shareholder letter shared by Jake Claver.SWIFT revealed plans to use a Layer 2 blockchain built on Ethereum called Linea, wi…
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Network Effect Gives XRP an Edge
A major concern among XRP investors is whether SWIFT or other companies could copy XRP’s code to create their own blockchain solutions. Garlinghouse explained that simply copying the XRP Ledger does not replicate Ripple’s network effect.
For over 13 years, Ripple has onboarded central banks, financial institutions, and other users onto the XRP Ledger. This adoption creates a network that competitors cannot easily replicate.
He added that major financial players like JP Morgan have also chosen Ethereum for smart contracts and blockchain products, not because XRP’s code is inferior, but because widespread adoption and infrastructure matter more than the technology itself.
The CEO’s message to shareholders was clear: Ripple is confident in the XRP Ledger’s future and believes competitors cannot match the ecosystem Ripple has built.