Ripple Joins BIS Taskforce for Cross-Border Payments
The Bank for International Settlements (BIS) has announced that Ripple (XRP) is now a member of its cross-border payments interoperability and extension taskforce. This taskforce is part of the BIS Committee on Payments and Market Infrastructures, which aims to improve payment systems and arrangements for cross-border transactions.
- The BIS Committee on Payments and Market Infrastructures has formed a taskforce to focus on cross-border payments interoperability and extension.
- Ripple has been selected as a member of this taskforce, which is composed of 33 entities and chaired by Ulrich Bindseil from the European Central Bank.
- The taskforce aims to bring together public authorities and private sector stakeholders to coordinate and cooperate on improving cross-border payment systems.
- The Bank for International Settlements believes that collaboration between the public and private sector is crucial for the success of the G20 cross-border payments program.
- XRP Ledger, the blockchain platform for XRP, has recorded close to 1.28 million daily transactions, surpassing Ethereum and Bitcoin in transaction volume.
By joining the BIS taskforce, Ripple is further cementing its position in the global payments industry and contributing to the development of cross-border payment solutions. This collaboration demonstrates the importance of public-private partnerships in driving innovation and improving financial systems.
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