“Not Scared of SWIFT”: Evernorth CEO Says XRP Is the True Bridge Between TradFi and DeFi

Evernorth CEO Asheesh Birla has dismissed concerns about SWIFT’s evolving capabilities, arguing that XRP remains the true bridge between traditional finance and decentralized finance. 

In a recent interview on Yellow Media, he reignited the global payments debate by downplaying SWIFT’s competitive threat to XRP, even as the network explores blockchain-based upgrades. 

Key Points 

• Evernorth CEO Asheesh Birla dismissed concerns about SWIFT’s evolving blockchain capabilities. 
• He reaffirmed that XRP remains the primary bridge between traditional finance (TradFi) and decentralized finance (DeFi). 
• The XRP Ledger already supports near-instant, low-cost global transactions. 
• Birla believes banks will bypass legacy systems like SWIFT in favor of XRP rather than wait for them to evolve. 

XRP Is the True Bridge Between TradFi and DeFi 

During the discussion, Birla addressed questions about XRP’s bridge-asset narrative, especially as SWIFT develops blockchain tools for faster settlement. He responded confidently, stating that he is not “scared” of competition from SWIFT. 

Instead, he argued that legacy systems like SWIFT remain constrained by decades-old infrastructure and are unlikely to undergo the radical transformation required to compete in a blockchain-driven environment.

Moreover, Birla emphasized that SWIFT’s incremental approach to innovation reflects its institutional DNA. While the network may adopt new technologies, he believes it is unlikely to redesign its core architecture. As a result, he maintains that XRP is uniquely positioned to connect traditional finance with decentralized finance. 

XRP’s Payment Utility 

For context, XRP and its underlying network, the XRP Ledger (XRPL), already operate within the global financial system. For instance, Ripple’s payment solution, powered by the XRP Ledger, enables near-instant settlement and is used by institutions such as SBI Holdings, Braza Bank, and Banco Genial. 

Additionally, Ripple recently confirmed that its payments network has processed over $100 billion in transaction volume across 60 markets, with some transactions directly utilizing XRP as a bridge asset.

Specifically, Tranglo acknowledged using XRP as a bridge asset for all its Ripple Payments transactions, reinforcing Birla’s assertion that XRP effectively connects traditional and decentralized financial systems. 

Banks Will Drive the Shift from SWIFT to XRP 

Given these dynamics, Birla argued that banks and financial institutions will increasingly look beyond legacy networks rather than wait for them to evolve. 

This transition is already underway. Major asset managers such as BlackRock and Fidelity Investments are expanding their presence in blockchain and digital asset markets, signaling growing institutional confidence in decentralized infrastructure. 

Notably, Birla believes that as adoption accelerates, financial institutions may leapfrog outdated systems altogether. In that scenario, assets like XRP could play a central role in shaping the next phase of global finance.

Meanwhile, Birla and Evernorth are already building the world’s largest XRP treasury. They plan to actively deploy these assets across various DeFi strategies to generate yield and, in turn, increase the number of tokens backing each share.