What Bank of England Knows about Ripple and XRP
Main Idea
The article contrasts the differing regulatory approaches of the U.S. and UK towards Ripple and XRP, highlighting the Bank of England's early engagement with RippleNet for financial infrastructure development.
Key Points
1. Satoshi Scope contrasts Ripple's legal challenges in the U.S. with the UK's welcoming stance, including a 2017 Bank of England trial of RippleNet for RTGS.
2. The Bank of England's early interest in Ripple was driven by ambitions to build a financial system beyond SWIFT, predating widespread CBDC discussions.
3. Ripple joined the Digital Pound Foundation in 2021, aligning with firms like Accenture and Avalanche in shaping the UK's digital financial infrastructure.
4. Despite regulatory pressure in the U.S., Ripple has been involved in CBDC pilots with nations like Palau, Bhutan, and Montenegro, suggesting foundational roles in post-SWIFT planning.
5. The article references a 2025 tweet by Satoshi Scope questioning the Bank of England's undisclosed knowledge about XRP, hinting at deeper institutional support.
Description
Crypto enthusiast Satoshi Scope has drawn attention to the divergent approaches taken by the United States and the United Kingdom toward Ripple and the digital asset XRP. In a recent thread titled “The XRP Bank of England Conspiracy: Was Ripple Always Crown-Approved?”, Satoshi Scope contrasts Ripple’s legal challenges in the U.S. with what he describes as strategic integration into the UK’s central banking initiatives. The thread opens with a direct juxtaposition: while the United States pursued...
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