Ripple’s XRP Touted as G20’s Missing Link for Cross-Border Payments—Banks Still Dragging Their Feet

Forget SWIFT’s stone-age delays—Ripple’s blockchain tech might finally force the G20 to modernize. A new report slams traditional finance’s ’plodding progress’ on cross-border payments and argues XRP adoption could hit the coalition’s 2030 targets… if legacy players quit whining about decentralization.

Key takeaway: Ripple’s rails settle transactions in seconds for pennies, while banks take days and skim 6% in fees. But good luck convincing the suits—most still think ’blockchain’ is a type of ergonomic chair.

Closing shot: If the G20’s serious about faster payments, they’ll ditch the paperwork and plug into crypto. Or they’ll just form another committee to ’study the issue’ until 2040.

Excerpt from FPC Confidentiasl ReportExcerpt from FPC Confidential Report Ripple’s Role in a Better Cross-Border Payment System Interestingly, the US FPC has highlighted some roles that US domestic payment providers could play in supporting the G20’s vision. It encouraged ISO 20022 compliance among American payment firms, interoperability, distributed ledger technology (DLT) adoption to improve cost, and inter-industry collaboration. Specifically, the industry-led membership organization identified Ripple’s RippleNet and stellar as prominent financial technology firms with which close collaboration could improve the global cross-border payment landscape.

RippleNet Mention as Key Cross Border InnovationRippleNet Mentioned as Key Cross-Border Innovation Ripple’s Vision to Revolutionize Payment The US-based payment giant built its business on enabling large financial institutions to MOVE funds efficiently. With its RippleNet and Ripple Payment technology, Ripple is transforming cross-border payment beyond past standards. Furthermore, Ripple leverages DLT, with XRP at the heart of the business. The firm enables large-scale, over-the-border transactions in a swift, cost-effective, and transparent manner, using the XRP Ledger as a means and XRP as a tool for its remittance. Meanwhile, Ripple’s ISO 20022 compliance, blockchain-based, and on-demand liquidity business model meet the G20’s criteria, placing it as a major contender to lead the cross-border payment sector in the future. With the payment and remittance industry slowly tilting towards Ripple, XRP will benefit extensively from the growing adoption.