{"id":6951,"date":"2023-05-26T16:26:33","date_gmt":"2023-05-26T16:26:33","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/xrp-recognized-by-atlanta-fed-reserve-bank-as-global-payment-solution\/"},"modified":"2023-05-26T16:27:19","modified_gmt":"2023-05-26T16:27:19","slug":"xrp-recognized-by-atlanta-fed-reserve-bank-as-global-payment-solution","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/xrp-recognized-by-atlanta-fed-reserve-bank-as-global-payment-solution\/","title":{"rendered":"XRP Recognized by Atlanta Fed Reserve Bank as a Global Payment Solution"},"content":{"rendered":"\n<div>\n<p>The Federal Reserve Bank Atlanta recently released a report titled \u201cAn Introduction to Web3 with Implications for Financial Services\u201d. The report referred to XRP as an \u201cinternational payment medium\u201d, highlighting the importance of Ripple\u2019s business model utilizing XRPL to meet cross-border settlement needs at a low cost.<\/p>\n<h2>XRP\u2019s Cross-Border Settlement Facilitation<\/h2>\n<p>XRP Ledger operates as an efficient payment medium for cross-border transactions, enabling them at a meager cost of $0.0002 within 3-5 seconds, and processing 1500 transactions every second. Its green attributes stem from its carbon-neutral and energy-efficient operations.<\/p>\n<p>The report also mentioned XRP and Stellar blockchains\u2019 relevance in value transfers, highlighting their cost-effectiveness, just like the proof of concept from Project Mariana.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"XRPL_Relevance_Mentioned_in_the_Report\"><\/span>XRPL Relevance Mentioned in the Report<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The report doesn\u2019t claim that the bank will adopt XRP for settlements, but its proponents believe mentioning it shows that public institutions notice its business model. Twitter users have expressed their enthusiasm about XRP\u2019s recognition as an international payment medium in the report.<\/p>\n<p>Despite Ripple\u2019s ongoing lawsuit with the US SEC, the company has continued to remain relevant by partnering with the Montenegro Central Bank to pilot its CBDC and launching a CBDC platform for governments and financial institutions.<\/p>\n<p>Ripple has also expanded its offerings by acquiring a Swiss crypto custody services firm Metaco and Panterra\u2019s stake in Bitstamp.<\/p>\n<\/div>\n<p><\/p>\n<blockquote><p>Source: <a href=\"https:\/\/www.tradingview.com\/x\/gC3JPrAD\/\" rel=\"nofollow noopener\">TradingView<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve Bank Atlanta recently released a report titled \u201cAn Introduction to Web3 with Implications for Financial Services\u201d. The report referred to XRP as an \u201cinternational payment medium\u201d, highlighting the importance of Ripple\u2019s business model utilizing XRPL to meet cross-border settlement needs at a low cost. XRP\u2019s Cross-Border Settlement Facilitation XRP Ledger operates as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6827,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"XRP Recognized by Atlanta Fed Reserve Bank as a Global Payment Solution - Bitrabo","description":"The Federal Reserve Bank Atlanta recently released a report titled \"An Introduction to Web3 with Implications for Financial Services\". The report referred to XR"},"footnotes":""},"categories":[316],"tags":[1104,921,1105,569,631,1103,1106,1107,517],"class_list":["post-6951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-atlanta","tag-bank","tag-fed","tag-global","tag-payment","tag-recognized","tag-reserve","tag-solution","tag-xrp"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=6951"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/6827"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=6951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=6951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=6951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}