IIF Recognizes Ripple’s XRP as a Key Player in Cross-Border Payment Innovation

A recent acknowledgment from the Institute of International Finance (IIF) highlights Ripple’s XRP as a promising solution for improving cross-border payment efficiency. The IIF, representing major financial institutions, specifically recognized XRP alongside ISO 20022 in a letter to the Bank for International Settlements (BIS). This marks a significant shift as the IIF traditionally focused on public sector initiatives and traditional banking models. The endorsement of Ripple’s technology by this influential body underscores the growing importance of blockchain solutions in shaping future payment systems.