Ripple joins forces with BIS in cross-border payments initiative
The Bank for International Settlements (BIS) has introduced a cross-border payments interoperability and extension (PIE) task force, with Ripple, the blockchain-based digital payment network, being one of its notable participants. XRP, a cryptocurrency used by Ripple in its On-Demand Liquidity (ODL) solution, was recently classified as not a security. The BIS, an international financial institution owned by member central banks, released a summary of the PIE task force ’s meeting on May 11, which outlines the task force ’s commitment to enhancing cross-border payments and achieving the quantitative goals established by the G20 in this area. The BIS Committee on Payments and Market Infrastructures has announced the membership of its cross-border payments interoperability and extension task force . For further details, look here https://t.co/yDQmdOmp9m pic.twitter.com/8G9UpOaDtL — Bank for International Settlements (@BIS_org) August 9, 2023 The Financ...