Ripple Named As Key BIS Committee Partner
Ripple, the company behind popular cryptocurrency XRP, has been announced as an official partner of a key subgroup under a Bank for International Settlements (BIS) committee. This could be a massive development in the company’s pursuit to create a crypto ecosystem between central banks around the world.
Main Breakdowns:
- Ripple is now an official partner of the ‘Cross-border payments interoperability and extension taskforce’ within the BIS Committee on Payments and Market Infrastructures.
- Ripple’s partnership with the BIS committee indicates progress in creating a crypto ecosystem for central banks.
- The recent Summary Judgment in the Ripple lawsuit against the SEC has contributed to XRP’s bullish trend.
- XRP price has experienced significant volatility due to recent developments, including the SEC’s filing for interlocutory appeal.
- XRP has seen a 54% price increase since the beginning of the year, compared to Bitcoin’s 58% increase.
Hot Take:
Ripple’s partnership with the BIS committee is a significant step towards establishing its cryptocurrency XRP as a key player in the global financial system. The recent legal victory against the SEC has boosted investor confidence and contributed to XRP’s positive market performance. As Ripple continues to collaborate with major players like Mastercard in the development of central bank digital currencies, it is positioning itself as a leader in the crypto space.
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