The Federal Reserve Atlanta, in its new research, noted XRP as an 'international payment medium,' signaling growing interest in its potential role in the global financial system.
Importance of XRP Mention in Research
The mention of XRP is included in a May 2023 publication from the Atlanta Fed’s Policy Hub, which explores the potential impact of blockchain technologies on financial infrastructure. The report, authored by Christine A. Parlour, a professor at UC Berkeley’s Haas School of Business, emphasizes how Web3 might reshape traditional financial systems.
Discussion of Web3 and Global Payments
This report also discusses Project Mariana, a joint initiative by the Bank for International Settlements and other central banks, that investigates using public blockchains and DeFi tools to streamline central bank digital currency transactions.
Technical Advantages of XRP
XRP is known for its fast transaction processing and low fees, making it an attractive option for large-scale payment systems. Transactions settle in 3-5 seconds, with fees as low as $0.0002, thus confirming its technical alignment with modern financial transaction requirements.
While the Federal Reserve does not recommend or adopt XRP, its mention in such a serious context confirms the growing interest in the token from institutional financial researchers.
