Posted 2 years ago | by Ben Armstrong
Is Ripple Moving Toward FedNow Payment System
Earlier this week, the Federal Reserve released a press release detailing its plan to put out a payment platform that can do transaction settlement quickly with no downtime. This sounds eerily similar to the goal of Ripple's xRapid platform. Naturally, the XRP community has been very excited about this announcement as it seems like an opportunity for Ripple to work with the U.S. government. Any time there is an opportunity for Ripple to expand its horizons.
The XRP is a community that has been accused in the past of creating an echo chamber for itself. For instance the $589 XRP prediction circulated greatly within the community itself before it ever was seen (and memed) by the greater crypto community. The point is that sometimes rumors about Ripple have no truth to them.
This story looks to be different and actually have legs. Ripple's Global Head of Infrastructure Innovation, Dilip Rao retweeted the Fed's announcement and added that it lined up with Ripple's mission:
— Dilip Rao (@diliprao) August 5, 2019
There is of course no guarantee that the Fed would actually work with Ripple even if Ripple did reach out to the Federal Reserve to volunteer its services. This is certainly not the last time we will hear these two entities mentioned together. The Fed press release is still fresh on the scene. One thing is for sure though, if you thought the XRP moon calls were loud before, just wait to hear how loud they will be if Ripple starts working directly with the Federal Reserve.
To see more about this story and more, check out BitBoy Crypto's latest video: