The proposal suggests using Ripple’s XRP token to largely replace the traditional Nostro accounts that support the SWIFT system, potentially freeing up $1.5 trillion in capital currently tied up in the U.S. banking system. Key Figures in the Proposal According to the economic analysis presented by Staudinger:
Global Nostro Accounts: $27 trillion U.S. Share of Nostro Accounts: $5 trillion Capital Released Using XRP (30%): $1.5 trillion Annual Savings on Transaction Fees (0.5%): $7.5 billion Potential Use of Funds: Reinvest the released capital into a national Bitcoin reserve (approximately 25 million BTC at $60,000 per coin).
The author argues that XRP, as an ultra-fast and low-cost “bridge asset,” could replace the pre-funded liquidity held in Nostro accounts (foreign currency accounts maintained by banks for cross-border payments). This is precisely the model that Ripple has been promoting for years through its On-Demand Liquidity (ODL) service. The document even outlines two implementation timelines:
A standard plan over 24 months (regulatory approvals, government pilot, and bank adoption). An accelerated plan over 6 to 12 months, relying on a presidential executive order, mandates from the Federal Reserve and OCC, and immediate regulatory clarity classifying XRP as a payment asset rather than a security.
A Public Submission, Not an Official Position It is essential to clarify that the SEC only publishes the contributions it receives through its Crypto Task Force as part of an open consultation process. The document was not written by the SEC, nor has it been approved or endorsed by the agency. It remains one proposal among many others received from the public. Nevertheless, its publication sparked significant excitement in the XRP community, with numerous videos and articles framing it as “the SEC officially endorsing XRP to replace SWIFT.” More skeptical voices, including some from Bitcoin-focused outlets, quickly pointed out that the calculations appear optimistic and that XRP is not the only potential strategic asset under consideration. Current Context and Market Realities in 2026 One year later, what is the actual situation?
The SWIFT system remains dominant, although it has adopted ISO 20022 and is actively testing tokenized solutions. Ripple continues to expand On-Demand Liquidity in several countries, but XRP has not yet seen large-scale adoption by U.S. banks. No concrete measures (such as a presidential executive order or Fed mandate) have followed Staudinger’s proposal. The long-standing SEC vs. Ripple lawsuit is considered resolved, and XRP now enjoys greater regulatory clarity in the United States.
The proposal remains noteworthy because it highlights a genuine structural issue: the high cost and inefficiency of traditional cross-border payments. Nostro accounts do tie up hundreds of billions of dollars that could potentially be deployed more productively. What do you think of this idea? Does XRP truly have the potential to disrupt SWIFT in the long term, or will it remain a complementary tool? Feel free to share your thoughts in the comments.