Institute of International Finance Acknowledges Ripple and XRP for Cross-Border Payments

The Institute of International Finance (IIF) has officially recognized Ripple and its native token, XRP, as viable alternatives for cross-border payments. This acknowledgment places Ripple alongside leading blockchain and stablecoin solutions that are reshaping the global payments landscape. According to the IIF, stablecoins and other digital assets continue to offer users superior speed and cost efficiency for international transfers. The report highlights several initiatives: JP Morgan’s Kinexys platform (formerly Onyx) utilizes blockchain for institutional cross-border settlements. Circle’s USDC, a regulated stablecoin, is widely adopted for retail use and has shown consistent success in processing international transactions. The report also notes the rapid growth of stablecoin-based remittances in regions like Latin America. PayPal USD is cited as a major stablecoin initiative contributing to the growing acceptance of digital currencies for cross-border payments. Coinbase’s Base, a Layer 2 blockchain, is noted for its cost efficiency, allowing for transfers under one cent per dollar. Ripple is highlighted for its purpose-built infrastructure enabling global payments using XRP—described as a floating, unbacked digital asset. The inclusion of Ripple and XRP by a global financial institution such as the IIF underscores the growing legitimacy of blockchain-based payment systems in institutional finance and signals continued momentum for crypto solutions in real-world financial use cases. Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets. Related stories Next article !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','1188189499475368');fbq('track','PageView'); Source: https://coindoo.com/institute-of-international-finance-acknowledges-ripple-and-xrp-for-cross-border-payments/