XRP ENDGAME! FED Just Partnered Up With BIS To Analyze The Use Of XRP In The New FINANCIAL SYSTEM!

XRP ENDGAME! FED Just Partnered Up With BIS To Analyze The Use Of XRP In The New FINANCIAL SYSTEM!

XRP, acts as a bridge currency to other currencies. It does not discriminate between any fiat or cryptocurrency, which makes it easy for any currency to be exchanged for another. In this way Ripple offers the fastest, cheapest, and secure cross border payments. Without Ripple, cross border payment takes days and tons of fees. So, it's a major problem solved by Ripple and XRP..
Now there is another problem. This World is moving towards digitization. The financial crisis, monetary issues regarding money laundering, tax evasion, and identity theft have made world leaders to think of going towards a more digitized system. CBDCs are the cure to these crises.
Earlier this year Ripple released a white paper document in which the payment company states XRP as the bridge currency for CBDCs. The document named ‘The Future of CBDCs’ states that cross-border payments with CBDCs have so far been neglected by the central banks, and focus more on domestic use cases. According to Ripple, if the CBDCs interacted with each other, it would be easier for commercial companies to do international business. XRP is named as an example of a neutral bridge in this document, with which two different currencies can be bridged quickly and efficiently.
The Bank of International Settlements has fully backed the idea of CBDC and XRP will be the main ingredient in this. Recently, the Federal Reserve Bank of New York has announced it will be partnering with the Bank for International Settlements Innovation Hub as part of the launch of its New York Innovation Center, an initiative aimed at exploring technology used to develop the global financial system.
In the opening of the New York Innovation Center, Federal Reserve chair Jerome Powell said the partnership would support the agency’s analysis of digital currencies, including the rollout of a central bank digital currency, or CBDC. The center plans to support analyses aimed at improving cross-border payment systems.
He said, “the pace of technological change and innovation over the last decade has led some to argue that we are on the brink of a fourth industrial revolution — a digital revolution. Certainly, rapid innovation, including through the application of advanced digital technologies, machine learning, artificial intelligence, and big data, is revolutionizing the financial sector.”

#XRP #Ripple
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