XRP cheaper than SWIFT: Japanese banks' data show lower cross-border costs

On April 10, an XRP advocate on X, Diana, shared what she described as live pilot results from Japanese banks indicating that using XRP for cross-border payments can be about 60% cheaper than SWIFT. The comparison was reportedly based on real-time data presented during the 2026 XRP Tokyo conference in Japan.

Pilot results: lower costs and faster settlement

At the 2026 XRP Tokyo conference, major banks in Japan presented live results from pilot tests that directly compared XRP and SWIFT. The banks reportedly ran transactions using XRP through remittance corridors between Japan and Southeast Asia, measuring performance across multiple metrics.

According to the shared account, the pilot showed two key outcomes:

• XRP was reported to be 60% cheaper than SWIFT for cross-border payments.
• Settlements were completed in just under 4 seconds.

Why SWIFT can be slower

The reported settlement speed contrasts with SWIFT’s typical timeline, which can take 1 to 5 business days to complete a transaction. SWIFT payments are routed through a chain of connected banks, where each institution must verify, process, and forward the payment to the next bank before it reaches the final destination. The number of intermediaries involved can extend execution time, which can be inefficient for businesses and individuals seeking fast, low-cost international transfers.

How XRP payments are described as lower-cost

Diana’s post outlined three reasons XRP is positioned as more cost-effective than SWIFT for cross-border transfers:

• Bridge asset for streamlined transfers: XRP is described as acting as a bridge asset. The XRP Ledger is said to convert the sender’s currency into XRP, transfer it across borders within seconds, and convert it into the recipient’s local currency upon arrival. This approach is presented as reducing the need for multiple currency conversions through costly intermediaries.
• Faster settlement via the XRP Ledger: The pilot results cited at the conference indicate settlement in just under 4 seconds, contrasting with SWIFT’s 1 to 5 business day process.
• Expanded On-Demand Liquidity (ODL) coverage: During the XRP Tokyo conference, Ripple reportedly announced an expansion of its On-Demand Liquidity (ODL) platform to include 12 new currency pairs. The update is described as enabling instant, low-cost transactions across a wider range of currencies, potentially increasing usage across more payment corridors.

Potential impact

If the pilot findings are representative, the combination of lower reported costs (60% cheaper) and faster settlement (under 4 seconds) would address two major constraints often associated with international transfers: expense and processing time. The reported ODL expansion to 12 additional currency pairs would also broaden the range of corridors where XRP-based transfers could be used.