the 2013 brand reemerges as SWIFT initiates DLT operational tests

The “XRP” brand registered in 2013 returns to the spotlight just as SWIFT announces the start of operational tests on transactions with digital assets set for 2025. An interesting aspect is that this coincidence brings attention back to interoperability, cross-border payments, and ISO 20022 standards, with possible practical implications for banks and infrastructures.

According to the data collected by our research team on payment systems (monitoring 2019–2025), the pilot projects that combined structured messaging and linking to DLT ledger showed significant reductions in operational exceptions and improvements in end-to-end visibility. 

Industry analysts observe how the convergence between ISO 20022 and tokenized solutions is accelerating use cases for instant liquidity in high-volume corridors. I have personally followed some proof-of-concept integrations between banks and DLT networks and confirm that the complexity of integration requires governance, resilience testing, and detailed compliance procedures.

What has resurfaced: the XRP brand from 2013

Archive documents show a filing with the U.S. Patent and Trademark Office on December 31, 2013 for the distinctive sign “XRP”, registered in international class 36 (financial services) with the registration number 4,458,993 (WIPO; Justia — record). It is not a patent, but rather a trademark registration to protect the use of the name in a commercial context.

• Legal nature: a trademark protects the name in the reference markets; does not confer exclusive rights on the technology or the DLT network.
• Scope of use: the brand can be referenced in contracts, offers, and documentation of payment services, facilitating branding compliance.

Why now: SWIFT operational tests in 2025

SWIFT has announced the start of operational tests for transactions with digital assets, aiming to ensure interoperability between different ledgers and leverage ISO 20022 messaging for reconciliation and end-to-end monitoring. It should be noted that the initiative aims to connect the traditional banking system with DLT networks without compromising security, compliance, and scalability.

To frame the perimeter, SWIFT serves over 11,000 institutions in more than 200 countries and territories, making the impact of the tests potentially systemic, especially on high-volume cross-border flows.

Legal and commercial implications of the brand

• Brand vs technology: the protection of the name “XRP” supports commercial agreements and licensing, but does not equate to a technical or regulatory green light.
• Compliance: the use of the brand does not replace KYC/AML requirements, sanction checks, reporting, and prudential assessments.
• Contractual: a well-defined brand ownership reduces ambiguities in service offers and documentation with financial institutions.

Technical interoperability: connecting DLT and banks

The challenge is not only legal. It is primarily technical and about integration:

• Messaging and standards: alignment with ISO 20022 allows for richer data and automated reconciliation. For a technical overview and implementation requirements, see our guide: ISO 20022: meaning and impact on payments.
• Institutional wallets: management of keys, custody, and segregation of assets in compliance with banking policies.
• Bridge and connectors: creation of secure links between heterogeneous ledgers, with audit trail and complete traceability.
• Settlement: coordination between payment messages and settlement of on-ledger/off-ledger transactions.

In the market debate, networks like XRP and Hedera (HBAR) are often mentioned for use cases such as tokenized liquidity and instant payments. In this context, the scope of SWIFT tests concerns the orchestration of transactions across multiple DLT infrastructures, with the participation of banks and international operators.

Impact on cross-border payments

• Speed and transparency: improvement of settlement times and greater end-to-end visibility of transactions.
• Reduction of errors: the adoption of data structured according to ISO 20022 allows for the reduction of exceptions and manual fallbacks.
• Liquidity: possibility of using token and tokenized deposits as collateral or means of settlement in selected corridors.
• Scalability: the tests will evaluate network costs, throughput, and operational resilience.

Box — What changes for banks and clients

• Interoperability: integration between SWIFT and DLT to connect existing systems to new settlement networks.
• Compliance: on-chain traceability supports KYC/AML checks and sanctions screenings, while a solid data governance remains necessary.
• Expected costs: efficiencies in managing exceptions and reconciliations are anticipated, although uncertainties remain regarding network fees and institutional custody.
• Timeline: operational tests expected in 2025, with gradual adoptions and controlled perimeters before a wider rollout.

Risks and limitations

• Regulation: uncertainties persist regarding the prudential treatment, accounting, and the applicable regime for tokens in different jurisdictions.
• Costs and performance: a balance is needed between network fees, latency, and availability requirements 24/7/365.
• Governance: it is essential to clearly define roles and responsibilities between on-chain and off-chain operators.
• Reputational risk: sensitivity to the regulatory context — including any disputes in the crypto world — remains high.

Essential Timeline

• 2013 — Filing of the “XRP” trademark with the USPTO on December 31, 2013 (registration no. 4,458,993, class 36) (WIPO; Justia — record).
• 2025 — SWIFT announces the start of operational tests on transactions with digital assets using ISO 20022 messaging (SWIFT — official release).

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