Ripple and New Global Recognition
After Ripple's historic victory in the lawsuit against the U.S. Securities and Exchange Commission (SEC), Ripple's blockchain payment system and native token XRP are receiving new global recognition. The Institute of International Finance (IIF) highlighted XRP as a faster and cheaper means of cross-border money transfer, especially in areas not fully served by traditional banks. XRP acts as a bridge asset, enabling almost instant payments without relying on banking intermediaries.
Reference to Ripple in Response from IIF
In the January consultation with the Bank for International Settlements (BIS), IIF outlined how to enhance cross-border payments and mentioned XRP in Ripple's network as an alternative rail. Stablecoins were also mentioned, but Ripple's RLUSD has not been considered, possibly because it just launched in December 2024.
Reference to Stablecoins but RLUSD Not Recognized
The IIF article also mentioned the role of stablecoins like Circle's USDC, PayPal's PYUSD, and Coinbase's ecosystem, all of which allow for fast and affordable international payments. However, Ripple's RLUSD was not acknowledged, perhaps due to its recent launch around the time of document submission. RLUSD has now been integrated into Ripple Payments, enhancing Ripple's toolkit.
The Widespread Recognition of Ripple Continues to Increase
This is not the first time Ripple and XRP have been praised. Last year, Mastercard recognized Ripple partner SBI Remit for using XRP in remittances. XRP was also highlighted in the World Bank's report and mentioned by the IMF and the World Economic Forum as a useful tool to unlock trapped capital. Even Morgan Stanley suggested that Ripple could replace SWIFT.
Although RLUSD has not been recognized this time, Ripple and XRP are experiencing strong growth in international finance. With increasing recognition from institutions and a rise in blockchain adoption, Ripple's cross-border payment technology is no longer out of vision.
Source: https://tintucbitcoin.com/ripo-noi-bat-trong-phan-hoi-iif-ve-thanh-toan-xuyen-bien-gioi/
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