The Institute of International Finance (IIF), a major voice in global finance policy, recently acknowledged Ripple and XRP as viable alternatives for cross-border payments.
This recognition appeared in the IIF’s response to the Bank for International Settlements (BIS) consultation through its Committee on Payments and Market Infrastructures (CPMI), under the G20’s roadmap to modernize and enhance global payments.
WrathofKahneman (WOK), a well-known commentator within the XRP community, called attention to this recognition in a recent post. WOK noted that while the paper acknowledged Ripple’s blockchain-based model using XRP, it did not reference RLUSD, Ripple’s newly launched stablecoin, despite mentioning other stablecoins.
In this January consultation with the BIS, the The Institute of International Finance (IIF) responded how to bolster crossborder payments. The mention #XRP on #Ripple’s network as an alternative rail. Also mention stablecoins, though #RLUSD was likely too new for consideration. pic.twitter.com/LD9Wk12F5M
— WrathofKahneman (@WKahneman) May 13, 2025
He suggested that this omission was likely due to the timing, as RLUSD only launched in December 2024, barely a month before the IIF document was submitted. Since then, RLUSD has already been integrated into Ripple Payments, Ripple’s enterprise-grade cross-border payment infrastructure.
Ripple’s Use of XRP a Viable Alternative for Cross-border Payments
The IIF’s consultation paper described Ripple’s technology and XRP as providing a new infrastructure for moving value across borders. The document mentioned XRP’s utility as a non-stablecoin crypto asset, presenting cost and speed benefits.
Ripple’s system, which bypasses the inefficiencies of traditional correspondent banking, uses the XRP Ledger to enable near-instant settlement. This model is particularly useful in corridors underserved by conventional banking systems.
Notably, the IIF document discussed multiple innovations that are looking to improve cross-border transactions. It mentioned efforts to implement global messaging standards like ISO 20022, initiatives like Project Agorá, and the Regulated Liability Network.
IIF Mentions Stablecoins
The paper also highlighted stablecoins more generally as another tool in the cross-border payment toolkit. It specifically referenced Circle’s USDC, PayPal’s USD-backed stablecoin (PYUSD), and Coinbase’s Layer 2 blockchain solution, Base.
It mentioned these platforms for their ability to execute international transfers at low costs and high speeds. Interestingly, Ripple recently offered to purchase Circle for $4 to $5 billion, but reports suggest the firm refused the offer.
Meanwhile, RLUSD’s absence from the stablecoin mentions appears to be a matter of timing rather than relevance, as the stablecoin’s launch only occurred shortly before the paper’s release.
Ripple and XRP Gaining Recognition
Contextually, Ripple and XRP boast a growing presence in the international payments conversation. In a recent report, MasterCard recognized Ripple’s partner SBI Remit for using XRP as a bridge currency in its remittance services.
Moreover, The Crypto Basic confirmed last year that a previous report from the World Bank, which discussed digital currencies for cross-border payments, highlighted XRP as a token that boosts utility in cross-border transactions.
Furthermore, both the International Monetary Fund (IMF) and the World Economic Forum discussed Ripple’s blockchain and XRP’s utility in unlocking capital that would otherwise be tied up in inefficient legacy systems. Also, Morgan Stanley considered Ripple as a viable alternative to SWIFT in international payments.
