President Trump Announces “U.S. Crypto Reserve” — First Step in Legitimizing Cryptocurrency as a Payment?
- President Trump Announced "U.S. Crypto Reserve" via his Truth Social platform
- Ondo Finance unveils "suite of infrastructure products designed to bring capital markets onchain"
- SWIFT Network adopts Hedera Tech
Earlier this week, President Trump made an announcement Via his Truth Social media platform that has sent ripples through the payments industry. It is his intention to established the U.S. Government's first "Crypto Strategic Reserve" -- a promise made by the President during his election campaign.
According to an article from NPR, this move would enable the US to buy and sell cryptocurrency -- a possible "game changer," not only for the cryptocurrency industry, but payments as well.
Adoption of Cryptocurrency Making Headway
Cryptocurrency has come a long way. Way back in 2020, we provided a "primer" for crypto, along with a few tidbits about the JPM coin and XRP for cross border payments. However, over the past two months, we've seen several new events that are likely to affect the payments industry as we know it.
For example, on February 6, 2025, Ondo Finance announced via press release the unveiling a "suite of infrastructure products designed to bring capital markets onchain."
According to the release:
At the first-ever Ondo Summit in New York City, Ondo provided details on two key pillars of this strategy: Ondo Global Markets, a tokenization platform designed to bring publicly traded securities onchain, and Ondo Chain, a new “Layer 1” blockchain, purpose-built to support institutional-grade onchain financial markets.
The ability to bring publicly-traded trade securities on-chain could be the first step for more adoption of cryptocurrencies as a retail payment.
SWIFT Networks Partner with Hedera
Fast forward to this week -- on the heels of the statement by President Trump, a major announcement was made at HederaCon 2025: the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network has adopted Hedera technology -- decentralized ledger platform on the blockchain used for storing and managing data and transaction -- for three continents: North America, Europe, and Asia.
While not generating buzz at the level of the US Crypto Reserve, this announcement could actually be seen as more important to the adoption of cryptocurrency.
According to Altcoin Buzz:
Behind the scenes, SWIFT has been testing Hedera’s technology through Proof of Concept (PoC) trials, proving its ability to handle “mission-critical” financial tasks globally. These successful tests have elevated Hedera to Technology Readiness Level 9 (TRL 9), the highest standard of readiness, positioning it as a reliable contender among big leagues. Live trials with banks in North America, Europe, and Asia will kick off this year, with full implementation of Hedera’s tech rolling out next year. This rollout demonstrates SWIFT’s confidence in Hedera’s scalability on a global stage.
What This Means for the Future of Payments
While there is much to unfold in the next few years, it's clear to see that the path toward adoption of cryptocurrencies as a legitimate payment method is being laid out as we speak. While many banks still may hesitate to jump onto the bandwagon, ignoring these trends may end up being costly for the FI.
As a new generation of retail customers adopt these technologies, they will likely sway toward FIs equipped for the needs of a new generation of consumers. However, while FIs need to plan for the future (even with the timeline being unclear), it's important that FIs not ignore their current client base and their preferences.
FIs are fortunate; new technologies for current payments like checks are able to be deployed seamlessly, whether it's direct or through their core providers. As FIs plan their future, it’s crucial for them to ensure current payments -- like checks -- are automated and require little in terms of internal resources, maintaining their effectiveness into the future.