Brad Garlinghouse Says Ripple Is Going After SWIFT, Argues XRP Is an Internet Moment for Money

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The latest discussion on crypto Twitter centers around how global payments are still running on outdated infrastructure, and XRP is being built to fix that gap.

“Wire Transfers” Are Still Stuck in the Past

At a recent event, Ripple CEO Brad Garlinghouse delivered one of the most pointed critiques of traditional finance infrastructure. Garlinghouse didn’t just criticize the SWIFT transaction; he also analyzed why it feels outdated at its core.

“I imagine everyone here has done a SWIFT-enabled transaction… you call it a wire transfer.”

Then he pointed out something most people overlook: “The expression ‘wire transfer’ comes from a telegram wire… this is not technology that has moved with the internet.”

That line hits because it shows how old the system really is. While communication evolved from letters to instant messaging, global payments are still relying on infrastructure designed decades ago.

Ripple’s Real Goal: Move Money Like Data

Garlinghouse made it clear this isn’t just about competing with banks or SWIFT:

“Do we compete with SWIFT? Yes… but at the core, what Ripple’s trying to do, we’re trying to let value move the way information moves today.”

Right now, sending money internationally can take days, involve multiple intermediaries, and cost significant fees. Ripple’s idea is to make money move instantly, just like sending a message or an email.

The Early Internet Analogy That Explains Everything

To simplify it, Garlinghouse compared today’s financial system to the early days of the internet:

 “I had a Prodigy account, I had an AOL account… there was also CompuServe.”

And here’s the main limitation: “You couldn’t email between CompuServe and AOL… that was not possible.”

Back then, platforms were closed ecosystems. That’s exactly how payment networks operate today: fragmented, slow, and not fully interoperable.

Ripple, using XRP, is trying to create that “internet moment” for money, where value can move freely across networks without friction.