- UK Parliament explores Ripple’s XRP for transforming global payment systems.
- EPA urges UK to adopt XRP for cross-border payment efficiency.
- Ripple’s XRP gains recognition, signaling blockchain’s future role in finance.
UK Parliament has reportedly been focusing on discussions surrounding Ripple’s XRP, with notable pundits highlighting its potential role in the future of global payments.
The Emerging Payments Association (EPA) has called on UK policymakers to consider XRP as a vital component for cross-border payment innovation, emphasizing its power to shift the balance of global financial systems.
EPA Urges UK Parliament to Embrace XRP for Cross-Border Payments
According to a post from SMQKE (@SMQKEDQG) on X, the EPA has urged UK Parliament to integrate XRP into its strategy for modernizing financial infrastructure.
The organization outlined how Ripple’s messaging system, supported by XRP, allows for real-time transmission of both messages and funds, eliminating the need for banks to provide liquidity at both ends of a transaction. This technological advancement could drastically improve the speed and cost-effectiveness of international payments.
Also Read: Brad Garlinghouse Video Resurfaces: ‘Ripple (XRP) Is In Fact Taking Over SWIFT’
The EPA further highlighted the power of XRP in enabling smart contracts, which can create 100% guaranteed Letters of Credit. This shows that XRP is not just a digital asset but a tool capable of facilitating secure and reliable financial solutions.
The EPA also stressed that, for the UK to remain competitive on the global stage, its regulatory environment must continue to evolve and enable technologies like XRP to thrive.
Ripple’s Growing Legitimacy in the UK Financial System
Noting that XRP is now officially recognized in Parliament, Pumpius (@Pumpius) emphasized that this development represents a significant validation for Ripple’s technology.
He pointed out that while traditional financial institutions in London, such as SWIFT and clearinghouses, have long dominated the sector, the recognition of XRP signifies a shift toward embracing more decentralized financial solutions.
The timing of this recognition is crucial, especially given the conclusion of the Ripple-SEC lawsuit and the ongoing excitement surrounding Ripple’s stablecoin ($RLUSD) and XRP ETFs.
Pumpius argued that these developments, along with the UK Parliament’s recognition of XRP, are not coincidences but part of a larger, strategic effort to incorporate blockchain technology into the financial mainstream.
As the UK increasingly looks to integrate blockchain technology into its financial ecosystem, the focus on XRP could prove to be a turning point in the evolution of digital trade. The Bank of England’s ongoing experiments with tokenized settlements further reinforce the growing acceptance of blockchain-based solutions.
Pumpius suggests that with the spotlight now on XRP, Ripple’s technology is poised to become a cornerstone of the UK’s financial future.
Also Read: Popular Crypto Whale Gives Candid Advice to XRP Holders
