SWIFT Praises GBBC’s Collaboration with Ripple (XRP), Hedera (HBAR), and Cardano (ADA)

Crypto researcher SMQKE recently highlighted a statement from Tom Zschach, Chief Innovation Officer at SWIFT, who publicly commended the Global Blockchain Business Council (GBBC) and Oliver Wyman for their work on advancing dialogue around blockchain adoption in institutional markets.

Zschach described the collaboration as “commendable work,” specifically noting the inclusion of industry leaders such as Ripple, Hedera, and Cardano.

Zschach’s comments were attached to a GBBC announcement regarding the release of the first draft of its Capital Markets Risk Mitigation Framework (RMF). The initiative will help regulated financial institutions assess and address non-financial risks associated with the use of public blockchains.

The framework will provide practical guidance for safe and sustainable blockchain adoption at scale, with GBBC inviting industry participants to provide feedback before October 3.

SWIFT Chief Innovation Officer Tom Zschach praised the GBBC’s collaboration with Ripple, Hedera, and Cardano, calling it “commendable work.”🔥

See for yourself.👇 https://t.co/2cRS8AGJet pic.twitter.com/UPHEAfVGo4

— SMQKE (@SMQKEDQG) August 23, 2025

Community Reactions to SWIFT’s Recognition

SMQKE’s post on X drew attention to Zschach’s acknowledgment of Ripple, Hedera, and Cardano’s role in the GBBC collaboration. One X user responded, “Interesting to see SWIFT acknowledging blockchain progress!” Another, identified as “just a cartoon dog,” remarked, “This is significant – it varies his previous comment regarding Ripple wasn’t sarcasm.”

This response referenced earlier coverage by Times Tabloid, which reported on SMQKE’s analysis of a LinkedIn exchange following Ripple’s $200 million acquisition of Rail, a company specializing in stablecoin infrastructure.

At the time, Zschach commented on the development, calling it “another ‘checkmate’ moment” while also clarifying that the competition in cross-border payments was “nowhere near over.”

His use of quotation marks around “checkmate” led some observers, including an X user Nietzbux, to suggest that the comment may have been made in a sarcastic context, reflecting the frequent use of the phrase by online commentators rather than a literal endorsement.

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— TimesTabloid (@TimesTabloid1) June 15, 2025

Shifting Tone on Ripple and Blockchain Adoption

The new recognition of the GBBC collaboration, however, has been interpreted by some community members as a shift in tone from the SWIFT Chief Innovation Officer.

While previously his remarks left room for debate on whether Ripple’s acquisition signaled a decisive advantage, his latest statement clearly highlights the importance of Ripple, alongside other blockchain entities, in shaping frameworks designed for institutional blockchain adoption.

For observers, the fact that SWIFT’s innovation head has openly supported GBBC’s work and named Ripple, Hedera, and Cardano as part of this “commendable” effort is viewed as an important signal of how traditional financial infrastructure providers are engaging with blockchain initiatives.

SMQKE’s report underscores how such recognition may reflect an evolving perspective within SWIFT on blockchain’s role in the future of global finance.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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