A recent tweet by crypto researcher SMQKE emphasizes Ripple's significance in the context of international financial standards and its contributions to digital infrastructure.
Ripple and ISO 20022 Compliance
Ripple is actively working on adopting ISO 20022, a standardized global messaging framework for financial institutions. This adoption is highlighted as part of Ripple's strategy to integrate XRP into international financial transactions, particularly through On-Demand Liquidity (ODL) for rapid cross-border settlements.
Global Collaboration and Central Bank Engagement
Ripple is also engaging with various sovereign entities. A significant partnership with Montenegro aims to develop a national CBDC. This collaboration may serve as a precedent for other Eurozone countries seeking to explore blockchain technology within their financial systems.
Ripple’s Role in Advancing CBDC in Asia
In Asia, Ripple continues to deploy its technology through partnerships with firms like FOMO Pay in Singapore. This collaboration focuses on improving cross-border transaction efficiency and integrating CBDC-like products into existing financial systems.
Ripple's active participation in standardizing international finance through ISO 20022 and its collaborations with sovereign entities emphasize its aim to become a central player in the future of financial technologies that focus on interoperability and CBDC development.
