XRP News: Bank of England Explores Ripple’s ILP for Enhanced RTGS Payments

In a move that could potentially revolutionize cross-border payments, the Bank of England (BoE) has conducted a proof-of-concept (PoC) to explore the use of Ripple’s Interledger Protocol (ILP) for synchronized real-time gross settlement (RTGS) payments.

Bank of England Explores Ripple’s ILP for Synchronized RTGS Payments

The Bank of England (BoE) has conducted a proof-of-concept (PoC) to explore Ripple’s Interledger Protocol (ILP) for synchronized real-time gross settlement (RTGS) payments. The program aims to enhance the efficiency and security of cross-border payment flows between different financial systems. RTGS has been a reserve system for almost three decades, allowing financial institutions to maintain accounts in Pound Sterling and offering an instantaneous and risk-free payment interchange. The BoE is considering ILP as a potential solution for optimizing cash flow, weighing its benefits and costs.

SEC Delays Four Ripple XRP ETFs

The Securities and Exchange Commission (SEC) has delayed a decision on Grayscale, 21Shares, Bitwise, and Canary’s Ripple XRP ETF applications. The regulator cited the need for more time to consider the proposed rule change and the issues raised. This decision is a setback for the crypto community, which was anticipating the approval of the first XRP ETFs. While other applications may be affected, the SEC has previously supported crypto by dropping investigations into several top exchanges.

Franklin Templeton Files for XRP ETF as SEC Delays Decision on Canary and Grayscale Filings

Franklin Templeton has filed an S-1 with the Securities & Exchange Commission (SEC) seeking approval to launch an XRP ETF. The SEC has delayed its decision on XRP ETF applications from Canary Capital and Grayscale. Following the filing, XRP saw a 6% increase in the past 24 hours as the crypto market attempted a recovery. The proposed ETF will trade on the Cboe BZX Exchange and utilize Coinbase Custody as the custodian for its XRP holdings.

Franklin Templeton Files for XRP ETF

Investment company Franklin Templeton has filed an S-1 form for the launch of a new ETF based on the XRP token. As one of the world’s leading investment managers, Franklin Templeton aims to expand the available ETFs based on digital assets with an XRP-based fund. The fund’s shares have been designed to replace an investment in XRP through crypto exchanges, including the need to self-custody XRP in a wallet. The shares aim to reflect the intrinsic value of XRP, providing an alternative way of achieving exposure. This filing comes at a time when altcoins are seen as riskier due to fearful market sentiment, but XRP tries to stand out as an asset with utility for the global finance ecosystem.