Politics

Atlanta Fed Report Validates XRP as Global Means of Payment, Ripple’s Business Model Solidified

As Ripple’s acquisition of Bitstamp signals a new phase for XRP the cryptocurrency gains recognition in a report by the Atlanta Fed . Described as an “international means of payment” XRP proves effective for institutional and cross-border transactions with low fees and fast transfers . This validation of XRP’s global payment capabilities generates enthusiasm within the community .

XRP’s Effectiveness for Institutional and Cross-Border Payments Highlighted

The Atlanta Fed report emphasizes XRP’s prowess as a reliable option for institutional and cross-border payments . Acknowledging its low transaction fees of $0 .0002 and speedy transfer time of 3-5 seconds XRP proves to be a valuable asset in facilitating seamless financial transactions .

Ripple’s Business Model and XRP Blockchain Scalability Endorsed

The report recognizes Ripple’s business model as relevant and endorses the scalability of the XRP blockchain . With the capacity to process 1,500 transactions per second the XRP blockchain demonstrates its efficiency . Furthermore Ripple’s commitment to environmentally friendly practices through carbon-neutral and energy-efficient operations bolsters its credibility .

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Project Mariana Validates Blockchain Adoption by Public Institutions

Project Mariana which is showcased in the Atlanta Fed report provides proof of concept for the adoption of Web3 and blockchain technology by public institutions . Led by the Bank for International Settlements (BIS) and the Banque de France the project explores the use of automated market makers (AMM) in foreign exchange and settlement . The forthcoming conclusions which are expected in mid-2023 indicate growing acceptance of blockchain technology within the financial sector .

This recognition of XRP’s global means of payment creates excitement among supporters who take to Twitter to express their pride and gratitude toward the Atlanta Fed . Ripple’s active involvement in projects like the HKMA pilot for the Hong Kong e-HKD further solidifies its position as a relevant player in the cryptocurrency industry .

 

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Steve Carney

Financial Writer Hi there! I'm Steve Carney, a news editor with a passion for economics and cryptocurrency. With over 5 years of experience in the media industry, I've had the pleasure of reporting on some of the most exciting developments in the world of finance. After graduating from the University of Sussex with a degree in Media and Journalism, I've honed my skills as a writer and editor for various publications. My ability to break down complex economic concepts into simple, accessible language has earned me a reputation as a trusted source of information for my readers.

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