Ex-SWIFT innovation chief doubts XRP's necessity in Ripple's tokenization pilot with Wall Street firms.

Tom Zschach, former Chief Innovation Officer at SWIFT, criticized Ripple's recent tokenization pilot involving Wall Street firms, arguing that XRP was likely unnecessary for the project. The pilot aimed to demonstrate how tokenization—turning traditional assets into blockchain-based tokens—could improve efficiency and transparency in asset management. Ripple positioned XRP as a key element to reduce costs and speed up transactions, but Zschach believes other technologies could achieve the same results without XRP. This critique challenges Ripple's long-term strategy, as the company must now prove XRP's unique value in tokenization amid growing competition and skepticism from financial veterans.