Regulation· ★★★· bearish·

Ripple No Longer Part of BIS Cross-Border Payments Task Force

  • —Ripple confirmed it is no longer on the BIS cross-border payments task force it joined in 2023
  • —On Sept. 2 the BIS published research on a data-verification prototype built on XRP Ledger and tested on DevNet
  • —The BIS said the paper is not an endorsement of XRPL or Ripple
  • —Ripple holds 31.98 billion XRP in escrow, about 32% of the supply
Why it matters: Ripple's exit from the BIS group weakens its standing in institutional payments efforts and complicates reading the XRPL paper as an endorsement.
#XRP
Source: Bitcoin.com
More on this
Markets · Sep 28
Ripple Eyes $155T Cross-Border Payments Market as XRP Bulls Revive SWIFT-Replacement Narrative
 Exchanges · Sep 27
Pantera CEO Says Ripple Is Taking Aim at SWIFT in Cross-Border Payments
 Regulation · Sep 21
CFTC Innovation Task Force launches Frontier Forum Series on financial technologies