- SWIFT’s CIO commended GBBC’s collaboration with Ripple, Hedera and Cardano.
- GBBC’s draft risk framework invites institutional feedback through 3 October.
SWIFT’s Chief Innovation Officer Tom Zschach has publicly praised the Global Blockchain Business Council’s work with Ripple, Hedera and Cardano, describing the collaboration as commendable. The statement draws attention to an industry effort to standardise how regulated institutions evaluate blockchain risks.
SWIFT executive praises GBBC initiative involving Ripple, Hedera and Cardano
The remarks follow the publication of a draft Capital Markets Risk Mitigation Framework led by the GBBC with advisory firm Oliver Wyman. Phase one participants include Ava Labs, Cardano Foundation, Clearstream, DTCC, Euroclear Group, Hedera Foundation and Ripple, with the World Bank participating as an observer.
The framework is positioned as a common reference for firms integrating public blockchains into existing risk processes.
SWIFT Chief Innovation Officer Tom Zschach praised the GBBC’s collaboration with Ripple, Hedera, and Cardano, calling it “commendable work.”🔥
See for yourself.👇 https://t.co/2cRS8AGJet pic.twitter.com/UPHEAfVGo4
— SMQKE (@SMQKEDQG) August 23, 2025
The document sets out guidance for non financial risk analysis when using public blockchain infrastructure. It focuses on how established governance, controls and testing can be adapted for externalised technologies such as open source software and cloud like infrastructure models that many blockchains resemble.
The framework is presented as a first step toward a global risk based assessment that regulated institutions can align with when evaluating tokenised securities and other on chain activities.
GBBC opens consultation on draft framework until 3 October
The GBBC has opened an industry consultation to gather practical feedback from supervisors, market infrastructures, banks and technology providers. Stakeholders are invited to submit comments via a dedicated form by close of business on Friday 3 October, after which the working group plans to refine the document.
The initiative will expand in subsequent phases to cover Layer 2 infrastructure and on chain digital payments in the next development cycle, followed by native crypto asset use cases in early 2026.
Zschach’s acknowledgement does not amount to a technical integration or endorsement of any particular protocol. It does however underscore that discussions between financial market stakeholders and public blockchain networks continue to centre on measurable controls, interoperability and operational resilience.
For institutions, the practical question is how to map node operations, key management and data dependencies into familiar frameworks for operational, vendor and technology risk. The GBBC’s draft offers a template for that translation and seeks to align terminology that risk committees, auditors and regulators already use.
Ripple, Hedera and Cardano each bring differing design choices and governance models that will weigh differently across use cases such as tokenised securities issuance, settlement messaging and on chain proofs.
The consultation and phased roadmap signal that market participants are testing whether these models can be documented with sufficient controls to support production deployments in regulated settings.
The trajectory of the framework will depend on the breadth of feedback from financial institutions and public authorities over the coming weeks.
At the time of press, XRP is trading at $2.95, marking an exact decline of $0.07, or –2.318%, compared to the previous close.
