World Bank Publishes Report Talking About Ripple And XRP – Here’s What It Says

The World Bank has published a report discussing Ripple’s Interledger and ￰0￱ indicated that the payment solutions involving XRP were promising, as they enable the exchange of currencies across different ￰1￱ Bank Talks About Ripple And XRP Crypto influencer SMQKE shared a World Bank report on ‘Blockchain Interoperability’ that considered Ripple’s Interledger , noting how anyone can receive any currency of their choice using ￰2￱ bank described this as being “very promising” for the payment domain, as it enables the exchange of value across different payment ￰3￱ bank further stated that the Interledger routes packets of value in the same way as the Internet routes packets of ￰4￱ World Bank report highlighted how the Interledger is addressing interoperability, as the team has developed several settlement rails for both crypto and non-crypto payments, with XRP a major part of this solution.

Notably, Ripple also continues to adopt several payment standards, including the ISO 20022 standard , to ensure that its payment solution can be adopted for cross-border ￰5￱ is known to serve as the bridge currency, enabling users to transfer and receive any currency of their ￰6￱ report highlighted the functions of nodes on the Interledger, in which XRP acts as the router , connecting the sender of USD and the receiver of another currency like ￰7￱ also applies to non-crypto payments, as one can send USD and receive another currency with XRP serving as the router. Meanwhile, SMQKE had mentioned how the payment firm had previously collaborated with the World Bank to advance the modernization of global payment clearing and back-end infrastructure.

Ripple’s partnerships with several banks are one of the reasons why members of the XRP community envisage that XRP could make headway in the global financial ￰8￱ recently shared documents that showed Ripple’s integration into the European financial ￰9￱ Firm Makes Headway In Africa Ripple announced that it has partnered with South Africa’s Absa to provide crypto custody services for the financial institution. Pro-XRP lawyer Bill Morgan indicated that this development may represent a major win for ￰10￱ noted that the collaboration between Ripple and the bank is not only about custody but seems to be connected to the broader demand for Ripple’s payment solutions in ￰11￱ further remarked that with announcements such as that, there is more to know behind the announcement.

Notably, the company earlier this year partnered with the African fintech giant Chipper Cash to integrate its payment technology into the ￰12￱ also partnered with Yellow Card to introduce its RLUSD stablecoin to African ￰13￱ the time of writing, the XRP price is trading at around $2.40, down over 3% in the last 24 hours, according to data from CoinMarketCap.