XRP News Today: Ripple's XRP Recognized by IIF as Key to Modernizing Global Payments

The Institute of International Finance (IIF) has spotlighted Ripple’s use of XRP as a significant private sector initiative enhancing cross-border payments. In a 2025 letter to the Bank for International Settlements (BIS), the IIF acknowledged XRP as a leading solution in modernizing payment infrastructures, alongside the ISO 20022 standard. This recognition underscores the growing legitimacy of cryptocurrencies within global financial discussions and marks a notable milestone for XRP, which has traditionally been overshadowed by public sector initiatives and banking consortia.

The IIF’s endorsement of XRP is particularly significant as it represents the views of some of the world’s largest financial institutions. By identifying XRP as a tool for improving speed, transparency, and cost-effectiveness in global payment systems, the IIF has placed Ripple’s digital asset on par with ISO 20022. This acknowledgment suggests that blockchain technology, as exemplified by Ripple’s payment network, is a superior alternative to legacy systems like SWIFT. The IIF’s reference to XRP carries weight, especially in the context of global regulatory bodies evaluating digital assets’ roles in the financial system. Ripple’s focus on compliance, interoperability, and real-world application aligns with the goals of institutions like the BIS.

The IIF’s letter also highlighted SWIFT’s upcoming migration to the ISO 20022 standard in December, which many experts believe will favor the digital asset. By aligning with the ISO 20022 standard, Ripple’s technology ensures compatibility with traditional financial systems while offering the benefits of blockchain-based solutions. This development reinforces Ripple’s positioning as a bridge between legacy payment networks and the emerging digital economy. The IIF’s letter further validates Ripple’s efforts to integrate digital assets into mainstream financial workflows. For XRP, this recognition may influence how policymakers and financial institutions perceive its role in future payment systems.