Categories

Most Popular

European Central Bank Speaking on New Forms of Cross Currency Settlement – RippleNet

Klaus M. Löber is Head of Oversight of the European Central Bank. In this function, he is in charge of the oversight of financial markets infrastructures (payment systems, central securities depositories, and central counterparties) as well as of payment instruments and schemes (such as card payment schemes, credit transfers, direct debits or e-money schemes). His areas of responsibility encompass the ECB’s EU and global regulatory policy activities with a focus on the safety and efficiency of payments and market infrastructures, including risk management and cyber resilience. Furthermore, Mr. Löber is contributing to the global fintech and digital innovations agenda, chairing the CPMI working group on digital currencies, and co-chairing the CPMI-IOSCO working group on digital innovations looking into relevant developments.

Tuesday May 18th, Klaus presented a PDC document called “Cross-border payments and cooperative oversight”

Look at these key takeaways:

New forms of cross-border and cross-currency settlement
• Entry of new players and reaction of incumbents
– Fintech payment service providers reinventing remittance
(TransferWise, Revolut)
– Alternative connectivity services
(Ripple Connect, response by SWIFT with GPI)
– Use of crypto-assets as a bridge currency
(Ripple Liquidity, alternatives based on DLT CLSNet)
– Settlement assets as proxy for CBDC
(digital token denominated in major sovereign currencies to
improve wholesale (DvP and PvP) settlement in major
currencies, fully backed by funds held at the central banks
of issue)
• Could also be combined with CBDC (tiered CBDC)

 

Not only is the European central bank talking about Ripple and Ripple net, but they are speaking interns of XRP for liquidity.

    Leave Your Comment

    Your email address will not be published.*

    Forgot Password

    Ledger Nano X - The secure hardware wallet
    Ripple Van Winkle XRPRightNow Ripple XRP