Search leave in the community $XRP
SM,QKE recently drew attention to XRP's potential role in the US financial system through Fedwire, the Federal Reserve's real-time gross settlement service.
Reports indicate that FedWire and its associated wholesale services process an astonishing $1 quadrillion annually. This system moves the equivalent of the United States' GDP every few days. This figure dwarfs systems like ACH and highlights FedWire's global importance.
Ripple connection through Vol, ante and Fina, stra
Meanwhile, Vol, ante Tech, nolo, gies, and Fin Astra also play important roles in this system. They are key technology providers for Fed Wire and established partners of Ripple.
In 2019, Finastra partnered with FinAstra to integrate its blockchain-based solutions into Finastra's payment system. This move gave Finastra customers access to over 200 RippleNet-affiliated financial institutions. In parallel, Ripple users gained access to Finastra's extensive banking network.
On the other hand, Volante has successfully integrated with Ripple's technology since 2015. It offers Fedasware as a cloud-based service and has confirmed that its platform users can use $XRP for transactions.
ISO 20022 certification strengthens ties
It's worth noting that Finastra and Volante strengthened their position in the US banking system in May 2024, when they received ISO 20022 certification from the Federal Reserve for their Fedasaware-compliant solutions.
Finastra's certified products include PayMe, PayToGo, GlobalPayPlus, PayPlus USA, and PayPlus Conect. Similarly, Volante has received certification for its electronic payment processing solutions.
These developments pave the way for 24/7 payments modernization, supporting compliance through cloud-based intermediary platforms or complete system replacement. These developments continue while maintaining compatibility with Ripple's infrastructure. Notably, Ripple itself is ISO 20022 compliant.
XRP is ready for institutional use.
This establishes a connection between Ripple, XRP, and the core of the US interbank infrastructure. It also supports a broader hypothesis that XRP may quietly integrate itself into the foundation of the future of finance.
Due to its speed, low fees, and high scalability, XRP could become compatible with systems that process some of the largest transaction volumes in the world.
As the payments landscape shifts toward instant settlement using systems like FedNow and RTP, Ripple and XRP are strategically joining forces to bridge the gap between traditional finance and blockchain-based infrastructure.
If XRP plays a minor role in the Fedwire ecosystem, which is worth over a quadrillion dollars a year, it could represent a massive, untapped tool that proponents believe could further influence XRP's price.
Interestingly, Ripple CEO Brad Garlinghouse recently supported this speculation, stating that XRP could handle 14% of the trillion-dollar SWFIT transaction volume by 2030.
