RUMOR🚨
Bank of England explores Ripple’s inter-ledger protocol for synchronized RTGS payments
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1/3
The Bank of England (BoE) has successfully conducted a Proof of Concept (PoC) in collaboration with Ripple, testing the application of Ripple’s Interledger Protocol (ILP) for synchronizing Real-Time Gross Settlement (RTGS) payments across different currencies. This initiative aims to enhance the efficiency and security of cross-border payment flows between distinct financial systems. During the PoC, the BoE experimented with Ripple’s ILP to facilitate coordinated cash movement between two simulated RTGS systems, addressing the need for seamless international transactions. Given that RTGS has served as a reserve system for nearly three decades—allowing financial institutions to maintain Pound Sterling accounts and enabling instant, risk-free payment exchanges—the BoE has been exploring ways to improve this system’s capabilities. Ripple’s ILP emerged as a potential technical solution for the synchronization of cash transfers in future RTG
2/3
The collaboration between the BoE and Ripple signifies a major step toward optimizing cross-border settlements and increasing Ripple’s visibility in global finance. The BoE has previously expressed interest in exploring digital currency solutions, including the potential development of a Central Bank Digital Currency (CBDC) for the UK—though no specific technology was endorsed in the bank’s initial publications. However, the successful use of Ripple’s ILP in the recent PoC suggests growing confidence in Ripple’s technology and its potential role in shaping future financial infrastructure. This recognition not only strengthens Ripple’s credibility but also opens up numerous opportunities for further collaboration, helping Ripple establish a more significant global presence
3/3
Over the past year, Ripple Labs has made significant strides in expanding its ecosystem and innovating within the financial sector. From the launch of Ripple USD (RLUSD)—a U.S. dollar-backed stablecoin designed to promote financial inclusion—to partnerships like the one with BDACS for on-chain custody solutions, Ripple has been pushing the boundaries of digital finance. Its global influence continues to grow, as evidenced by Saudi Arabia’s National Commercial Bank (NCB) joining RippleNet. Furthermore, Ripple’s ambitious moves into tokenization, including the creation of a $3.8 billion tokenized money market fund on the XRPL, underscore its mission to revolutionize the digital asset industry. As Ripple continues to drive innovation, its expanding ecosystem positions the company at the forefron
#BTCNextATH #UkraineRussiaCeasefire #AltcoinETFsPostponed #USTariffs #MarketRebound
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The Bank of England (BoE) has successfully conducted a Proof of Concept (PoC) in collaboration with Ripple, testing the application of Ripple’s Interledger Protocol (ILP) for synchronizing Real-Time Gross Settlement (RTGS) payments across different currencies. This initiative aims to enhance the efficiency and security of cross-border payment flows between distinct financial systems. During the PoC, the BoE experimented with Ripple’s ILP to facilitate coordinated cash movement between two simulated RTGS systems, addressing the need for seamless international transactions. Given that RTGS has served as a reserve system for nearly three decades—allowing financial institutions to maintain Pound Sterling accounts and enabling instant, risk-free payment exchanges—the BoE has been exploring ways to improve this system’s capabilities. Ripple’s ILP emerged as a potential technical solution for the synchronization of cash transfers in future RTG
2/3
The collaboration between the BoE and Ripple signifies a major step toward optimizing cross-border settlements and increasing Ripple’s visibility in global finance. The BoE has previously expressed interest in exploring digital currency solutions, including the potential development of a Central Bank Digital Currency (CBDC) for the UK—though no specific technology was endorsed in the bank’s initial publications. However, the successful use of Ripple’s ILP in the recent PoC suggests growing confidence in Ripple’s technology and its potential role in shaping future financial infrastructure. This recognition not only strengthens Ripple’s credibility but also opens up numerous opportunities for further collaboration, helping Ripple establish a more significant global presence
3/3
Over the past year, Ripple Labs has made significant strides in expanding its ecosystem and innovating within the financial sector. From the launch of Ripple USD (RLUSD)—a U.S. dollar-backed stablecoin designed to promote financial inclusion—to partnerships like the one with BDACS for on-chain custody solutions, Ripple has been pushing the boundaries of digital finance. Its global influence continues to grow, as evidenced by Saudi Arabia’s National Commercial Bank (NCB) joining RippleNet. Furthermore, Ripple’s ambitious moves into tokenization, including the creation of a $3.8 billion tokenized money market fund on the XRPL, underscore its mission to revolutionize the digital asset industry. As Ripple continues to drive innovation, its expanding ecosystem positions the company at the forefron
#BTCNextATH #UkraineRussiaCeasefire #AltcoinETFsPostponed #USTariffs #MarketRebound
$BTC
$XRP
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