Quick overview

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The conversation shifted to the development of digital payments and how XRP is changing global banking systems, with the participation of Donald Trump Jr. and Bitboy.

The well-known cryptocurrency analyst CryptoSensei (@Crypt0Senseii) posted the Bitboy video on X, which described how XRP is tackling cross-border payments, one of the most enduring inefficiencies in international capital markets.

Armstrong made a stark analogy between XRP and the conventional SWIFT network, which serves as the foundation for the majority of international financial transactions, during the conversation. While acknowledging that the SWIFT system is still a “network of information,” he referred to Bitcoin and XRP as “networks of value.”.

Practically speaking, this distinction means that SWIFT only transmits transaction messages between banks; manual or delayed procedures are then used to move the money. XRP addresses the liquidity issue, improving the system’s overall speed and efficiency, while SWIFT transmits messages.

“The SWIFT system always has to come in on the back end and do all the work when something is happening on it,” he stated. Armstrong continued by highlighting the difficulties that many companies encounter when sending money abroad, citing manual verifications and time zones as the main reasons for settlement delays.

XRP aims to eliminate various obstacles in the international payment process. It is noteworthy that XRP transactions can be completed in just 30 seconds, while traditional international payments often take five to seven days to settle. Ripple’s mission to modernize global finance centers on this speed, along with reduced costs and the ability to bridge different currencies.

During my conversation with Armstrong, I acknowledged his explanations with brief responses. This discussion occurs at a time when digital assets are being addressed in the political arena. President Donald Trump has openly expressed his support for the development of cryptocurrencies, stating that the digital economy is a leader in innovation. A closer look at XRP’s international payment system by Trump’s team may indicate a shift in how traditional political leaders view blockchain technology.