The U.S. Faster Payment Council acknowledges Ripple cross-border payment solution in enhancing efficiency and reducing costs in the industry through the use of XRP. In a significant development, it has been revealed that the U.S. Faster Payment Council (FPC) highlighted the capabilities of Ripple and XRP in a document discussing cross-border payment solutions.  A pro-XRP […] The post US FP Council Spotlights Ripple Solution for Cross-border Payments first appeared on The Crypto Basic.

US FP Council Spotlights Ripple Solution for Cross-border Payments

The U.S. Faster Payment Council acknowledges Ripple cross-border payment solution in enhancing efficiency and reducing costs in the industry through the use of XRP.

In a significant development, it has been revealed that the U.S. Faster Payment Council (FPC) highlighted the capabilities of Ripple and XRP in a document discussing cross-border payment solutions. 

A pro-XRP Twitter account shared screenshots of the document, revealing the council’s recognition of Ripple’s solution as a potential game-changer in the industry.

FPC Document

The FPC’s Cross-Border Payments Work Group, established in 2020 with 30 diverse members, had diligently explored ways to enhance faster cross-border payments. In June 2021, it published the ‘Cross-Border Faster Payments White Paper.’ 

The report outlined the requirements for faster and more efficient cross-border transactions, emphasizing speed, cost, ubiquity, transparency, and risk. The workgroup underwent a significant shift in focus a year later, expanding its mission to cover global initiatives impacting cross-border faster payments, such as cryptocurrency. 

Under the revised charter, the FPC’s workgroup investigated the potential impact of U.S.  CBDCs on the adoption  of real-time cross-border payments. It examined various solutions currently available in the market, with Ripple’s solution garnering particular attention.

FPC Spotlights Ripple

document

...

Read more