David Schwartz, former CTO of Ripple, has defended the continued relevance of XRP in international finance. In the interview aired Saturday, the manager argued that banks may still have to choose XRP over Ethereum and Solana for some use cases.
His comments come as rivalry among Ripple, Ethereum, and Solana continues to intensify in on-chain finance. Amid the competition, global firms favor different protocols due to core infrastructure and regulatory clarity.
Ethereum, XRP, or Solana? Which is better for banks
In the podcast, Schwartz said XRP can be better situated for certain use cases. He said financial institutions are adopting the Ripple network for ‘advantageous’ payment settlements and DeFi applications. The CTO explained why banks should prefer XRP over other on-chain networks like Ethereum, Solana, and others, given Ripple Ledger’s built-in design.
He said financial institutions worldwide are increasingly adopting XRP infrastructure developed by Ripple Labs because of the network’s fast, low-cost cross-border transactions, high liquidity, robust on-chain applications, and transparency. These extraordinary attributes make Schwartz convinced that XRP has the upper hand over rivals. This explains why he believes banks should use XRP for payment and on-chain applications.
 
He mentioned that XRP offers supersonic transaction speeds, with transaction times of 3-5 seconds and extremely low transaction fees. This is in sharp contrast to Ethereum which executes slow transactions and has higher transaction fees.
While both Solana and XRP support high throughput and offer fast, low-cost transactions, the two networks are designed to address very different problems.
XRP operates as an institutional payment network, specializing in the $150+ trillion cross-border settlement market through banking partnerships and regulatory clarity. On the other hand, Solana functions as a decentralized application network, built to power the emerging gaming, NFT, and DeFi economies through high speed and developer flexibility.
Schwartz explains why XRP is different
In the interview, Schwartz admitted that Solana and Ethereum each have unique advantages. He explained what XRP offers, including institutional adoption, cost efficiency, and speed. Based on his statement, these make XRP a better choice for banking, cross-border transactions, and international payment solutions.
XRP has witnessed massive adoption among prominent financial companies like MoneyGram, American Express, Santander, and several other global banks. This suggests XRP has strong potential to be adopted by other banks worldwide to power their global payment systems.
Be the first to comment