2023-08-10 14:00:11

Bank for International Settlements Forms Cross-Border Payments Working Group, Members Include Ripple

PANews news on August 10, according to Cointelegraph, the Bank for International Settlements (BIS) recently announced the establishment of a cross-border payment interoperability and extension (PIE) working group, whose members include Ripple, a blockchain-based digital payment network.
The working group, part of the BIS Committee on Payments and Market Infrastructures (CPMI), will work on "strengthening cross-border payments and achieving the G20-endorsed quantitative goals for cross-border payments." The PIE working group will also enhance cross-border payments by improving access to payment systems, extending the uptime of payment systems, and establishing links between different payment systems. Ripple will work with other working group members such as Mastercard and SWIFT to achieve the BIS' goal of improving interoperability of cross-border payments. BIS also highlighted that cooperation between the private and public sectors is a key element of the G20 cross-border payments plan. #Content Star#

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