Consumer Financial Protection Praises XRP For Cross-Border Settlement

12593556_10205735480657537_3835976740831778163_o
Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • Recently, the Bureau of Consumer Financial Protection’s (Bureau) published an assessment report.
  • The Bureau saw that the remittance market had experienced significant change since the Rule became effective.
  • However, the famous crypto enthusiast Coining203 shared the assessment on Twitter pointing out XRP has made into the final rules.

Recently, the Bureau of Consumer Financial Protection’s (Bureau) published an assessment report in praised Ripple XRP as an accepted solution. The Bureau saw that the remittance market had experienced significant change since the RuleRule became effective.

XRP has made into the final rules

Advertisement


In particular, the report explained various developments about the growth and integration of innovative technologies, though, the providers of cross-border money transfer and other organizations that help such providers.

However, the famous crypto enthusiast Coining203 shared the assessment on Twitter pointing out XRP has made into the final rules.

The Bureau has kept an eye on the remittance transfer market and witness that many developments are on progress.

Moreover, these developments recommend that in future, there may be a means by which banks and credit unions can reduce their dependence on projections. But, there are certain restrictions to which how much the developments can solve the issue.

Besides this, a closed network payment system applied by these developments to cross-border cash moves that to be sent by banks and credit unions.

Bureau highlights on use of Ripple for settlement

Additionally, the Bureau assessment underlines the utilization of XRP for the settlement of cross-border transactions. This looks like the Bureau is praising Ripple for offering quality, simplicity, and transparency to the banking sector.

In the meantime, the Bureau considers that mass adoption of products like Ripple suite or SWIFT’s GPI can ultimately allow the banks to get an accurate final amount. That the beneficiaries of remittance transfers will gain before it reaches an assignment.

Hot News

XRP’s Bearish Trend Proves Why It is One of the Preferred Cryptocurrencies

Popular altcoins such as Ethereum, XRP, Cardano, Chainlink, and Dogecoin observed their trading price soaring since the start of the month. XRP’s price...

Australian Woman Behind $300,000 Worth XRP tokens Theft Sentenced to 2 Years of Jail

Women committed this crime with the help of an associate where they stole more than $300,000 in fiat value in the form of...

Mining Stocks Explode Amidst The Bitcoin Rally

Nasdaq reported Marathon Patent Group's stock touched a new 52 week high.  MARA shares appreciated 50% and traded at $3.04, prior to which...

Federal Reserve’s Measures On Inflation May Directly Influence BTC’s Adoption

Federal Reserve of the United States said that in the coming months they will deliver a strong framework on low rates as it...

Ethereum Classic (ETC) CEO’s Statement on Recent Attacks

Terry Culver, CEO of ETC labs announced that the future of ETC is still a vibrant one. A reorganization of 3693 blocks has...

Vitalik Buterin vs Forsage Twitter War on Ethereum Scam

Philippines' Securities and Exchange Commission (SEC) declared Forsage as a Ponzi. Vitalik Buterin demanded that Forsage leaves, and stops polluting the Ethereum ecology...

Partners

RELATED NEWS

XRP’s Bearish Trend Proves Why It is One of...

Popular altcoins such as Ethereum, XRP, Cardano, Chainlink, and Dogecoin observed their trading...

Australian Woman Behind $300,000 Worth XRP tokens Theft Sentenced...

Women committed this crime with the help of an associate where they stole...

Mining Stocks Explode Amidst The Bitcoin Rally

Nasdaq reported Marathon Patent Group's stock touched a new 52 week high.  MARA...