New Document: Ripple Collaborated with Fed to Update Domestic Payments
Main Idea
A document reveals Ripple's collaboration with central banks, including the Federal Reserve, between 2013 and 2017 to update domestic payments, highlighting its role in blockchain-based payment solutions and institutional backing.
Key Points
1. Ripple collaborated with central banks like the Federal Reserve, Bank of England, and Saudi Arabian Monetary Authority between 2013 and 2017 to update domestic payments.
2. By 2015, Ripple emerged as a key player in blockchain-based payment solutions, challenging traditional systems like SWIFT.
3. Ripple secured $93.6 million in funding across nine rounds between 2013 and 2017, with Santander InnoVentures leading one round and later implementing Ripple's technology.
4. The rise in XRP's price in late 2017 increased Ripple's institutional relevance, with its valuation surpassing most banks at the time.
5. Ripple's industry presence was further solidified through participation in global conferences like SWIFT’s SIBOS and Money2020, and its SWELL event featuring high-profile speakers.
Description
In a recent tweet, crypto researcher SMQKE highlighted renewed attention to a documented collaboration between Ripple and prominent financial authorities, most notably the Federal Reserve. Attached to the tweet is an excerpt from a published academic or industry source detailing Ripple’s engagement with central banks and financial institutions between 2013 and 2017. The document confirms that by 2015, several leading central banks and monetary authorities were examining or participating in Rippl...
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