Ripple joined the Faster Payments Consortium (FPC) to revolutionize payments

Ripple wants to bring his stone to the building in relation to the development of new payment standards. To do this, she chooses Faster Payments Consortium as a working partner in the goal of reforming the transfer market.

Shape the future of payments

Craig DeWitt, the product manager, Ripple, announced on Twitter that the platform has joined the ” Faster Payment Council for work focusing on cross-border trade facilitation.

“Very happy to join the group of cross-border working in the US Faster Payments Council ! Ensure that Americans can pay anyone, anywhere, anytime, ” said Craig DeWitt.

Created in 2018, the consortium brings together companies of first rank who are conducting joint research to develop solutions for innovative payment by providing their expertise and respective resources. Within the consortium, several working groups are formed and report on a particular aspect of the payment industry (including the development of standards related to this area). The consortium already counts in its ranks of the heavyweights such as Microsoft and SWIFT.

Ripple joined the committee of the ISO standards

Ripple also intends to shape the future of payments by integrating the standards committee, ISO. The organization, which counts among its members banks and providers of payment establishes the financial standards for transfers of funds between institutions.

“To enable this next step in global interoperability and to meet the changing needs of our customers, Ripple is now part of the organization for standardization ISO 20022 – the first member to focus entirely on the technology of Distributed Ledger (DLT),” said Ripple.

Thanks to this integration, a Ripple showcases the technology Blockchain within this agency in order to sketch a bright future for the cross-border market.

What do you think of this great step made by Ripple in the transfer market ? Respond in the comments section below.

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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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