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Morgan Stanley has identified Ripple (XRP) as a leading alternative to the traditional SWIFT system in cross-border payments.

The bank’s assessment of blockchain-based solutions highlights Ripple’s potential to solve major inefficiencies in global finance. According to Morgan Stanley, adopting a payment system similar to Ripple could “shorten settlement periods, speed up transactions, and reduce the risk of fraud,” as the highlighted text clarifies.

“Morgan Stanley considers Ripple to be a leading international payment alternative to SWIFT,” the same section added.

This evaluation suggests that Ripple and XRP, the cryptocurrency powering its network, occupy a unique position in the financial sector because they are viewed as a direct competitor to one of the most well-known payment networks, rather than just another blockchain project. Morgan Stanley’s analysis indicates that banks could benefit from Ripple’s efficiency. Reducing settlement times and risks may encourage financial institutions seeking faster and more secure transactions to adopt it.

The recognition of XRP by a major financial institution affirms its utility. Wider adoption of Ripple’s system by banks could directly boost XRP’s use in settlement processes. The report also highlights cost savings, such as lower remittance fees and increased end-user funds, which could promote greater adoption.

This recognition shows that XRP is being compared not only to other digital assets but also to current global solutions. Despite the advantages of Bitcoin and Ethereum, XRP stands as a strong competitor in a market traditionally dominated by centralized systems. Morgan Stanley has identified XRP as a top contender for replacing international payment methods.