- XRP’s World Bank recognition highlights its efficiency, speed, and low cost in cross-border transactions, elevating its role in global payments.
- XRP’s design as a bridge currency positions it as a strong alternative to traditional banking systems, potentially shaping future international payments.
In line with the update on XRP’s new status, the World Bank has designated Ripple’s coin as stable for cross-border transactions, as reported by CNF. Furthermore, the World Bank has recognized XRP as the top digital currency for cross-border transactions, emphasizing its efficiency, speed, and cost-effectiveness in international money transfers.
As shared in a tweet by Levi, Crypto Crusaders, the endorsement highlights XRP’s potential to transform global payments by offering a faster and cheaper alternative to traditional banking systems.
JUST IN: 🏦The World Bank has picked $XRP as the most suitable currency for cross-border transactions! pic.twitter.com/Ofc5vG6Lmz
— Levi | Crypto Crusaders (@LeviRietveld) September 2, 2024
According to another CNF update, Ripple designed XRP as a bridge currency for seamless cross-border payments between different fiat currencies. Expert forecasts suggest a potential XRP surge to $1,000, backed by a $1 trillion market, with XRP reported to process 1,500 transactions per second at minimal cost.
A notable example of its efficiency is Arrington Capital’s transfer of $50 million in just 3 seconds for only $0.3. While XRP is often compared to Stellar (XLM), XRP focuses on serving financial institutions and corporations, whereas XLM caters to individual users.
The World Bank’s selection of XRP is a major milestone, and experts believe XRP could play a critical role in future international payment systems, potentially supporting a crypto-based SWIFT alternative.
While being recognized as the Best Currency for International Transactions by the World Bank, Ripple (XRP) is trading at $0.5512, with a 0.13% increase in the past day and a 3.98% decrease in the past week. See XRP price chart below.
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