SWIFT continues to grapple with the 'last mile' delays in cross-border payments, while Ripple is making strides with instant settlement on the XRP Ledger. Despite SWIFT's ability to transmit information between banks in seconds, the final credit posting is often delayed due to local compliance checks and outdated systems. Ripple's XRP Ledger, however, offers near-instant settlement, typically within 3-5 seconds, by using a consensus mechanism among validation nodes. Ripple's On-Demand Liquidity (ODL) allows institutions to access real-time liquidity without pre-funding accounts overseas, reducing costs and settlement delays. As the global financial industry increasingly emphasizes blockchain settlement, major institutions like Mastercard and BlackRock are exploring blockchain's potential to transform cross-border payments. Approximately 60% of institutions connected to SWIFT are reportedly engaging with Ripple's ecosystem, highlighting a convergence rather than a replacement of systems.