The Bank for International Settlements (BIS) announced Ripple (XRP) as an official member of its ‘cross-border payments interoperability and extension taskforce’, on August 9.
This taskforce is part of the ‘BIS Committee on Payments and Market Infrastructures’, composed of 33 entities plus the Chair, Ulrich Bindseil, Director General Market Infrastructure & Payments at the European Central Bank.
“Engagement and partnership between the public and private sector is a key element of the G20 cross-border payments programme. Improvements to payment systems and arrangements underlying cross-border payments require global coordination, cooperation and the commitment of a wide range of public authorities and private sector stakeholders.”
“The CPMI is working to bring together the relevant stakeholders via joint working groups, workshops, consultations and surveys to ensure both strategic perspective and the required subject matter expertise is available to the programme.”
– Bank for International Settlements (BIS) events
BIS is an international financial institution owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central banks.
XRP price and number of transactions
Data retrieved by Finbold shows that there were close to 1.28 million daily transactions on XRP Ledger, on August 8, as opposed to 1.09 million for Ethereum. Bitcoin (BTC), the leading cryptocurrency, lies far behind with circa 0.33 million transactions taking place on its blockchain.
Meanwhile, XRP is, by press time, changing hands at the price of $0.66, registering an increase of 4.09% on the day.
Composition of the BIS ‘cross-border payments interoperability and extension taskforce’
The composition of the mentioned Bank for Internacional Settlements taskforce is, as reported, the following:
Entities member of the BIS cross-border payments taskforce
Financial infrastructures:
- Buna
- Cross-border Interbank Payment System (CIPS)
- CLS
- EBA Clearing
- Fnality International
- Iberpay
- Mastercard
- PayNet Malaysia
- Payments Canada
- Ripple
- RTGS Global
- Swift
- The Clearing House (TCH)
- Worldline
- Pan-Africa Payment and Settlement System (PAPSS)
Payment service providers (banks and non-banks):
- Bank of China
- Commonwealth Bank of Australia
- Deutsche Bank
- Mercado Pago
- Mukuru
- Ria
- Société Générale
- Wells Fargo
- Wise
- Nubank
Associations:
- Africa Nenda
- Emerging Payments Asia
- European Payments Institutions Federation
- Institute of International Finance (IIF)
- Japan Bankers Association
- UK Finance
- GSM Association (GSMA)
- SADC Banking Association
Representatives of the BIS cross-border payments taskforce
Financial infrastructures:
- Faisal Alhijawi (Chief Strategy & Development Officer)
- Shuijiong Wu (Deputy GM IT)
- Dirk Bullmann (Global Head, Public Policy)
- Erwin Kulk (Head, Service Development and Management)
- Stephan Mahnke (Director of Business Development)
- José-Luis Langa (Deputy Managing Director)
- Alan Marquard (Executive VP for Transfer Solutions)
- Azleena Idris (Sr Director, Corporate Strategy & ESG)
- Zarin Ahmed (RTR Product Director)
- Rene Huijsen (Director of Payment Operations)
- Dirk Cavens (Head of Product Office)
- Saskia Devolder (MD Cross-border Payments Strategy)
- Rusiru Gunasena (SVP Product & Strategy)
- Thomas Feiler (Sr Strategy Manager, Account Payments)
- Mike Ogbalu III (CEO)
Payment service providers (banks and non-banks):
- Jun Xu (Director Senior Manager)
- Susan Yang (General Manager)
- Paula Roels (Head SWIFT & Market Infrastr Corporate Bank)
- Paula Arregui (Payments Senior Vice President)
- Nikki Kettles (Executive Licenses and Payment Regulations)
- Ignacio Reid (COO)
- Frantz Teissèdre (Head Interbank Relationships)
- Michael Knorr (CIB Industry & Advisory Leader)
- Arun Tharmarajah (Head of European Banking and Payments)
- Rafael Wowk (Public Policy Sr. Manager)
Associations:
- Michael Mbhutia (Regional Director East Africa)
- Brad Pragnell (EPAA Advisory Board)
- Elie Beyrouthy (Vice President European Government)
- Jessica Renier (Managing Director, Digital Finance)
- Misao Watanabe (General Manager, Mizuho)
- James Barclay (Chair, UK Finance, ED at J.P. Morgan UK)
- Mary Gichuki (Mobile Money Programme Advocacy Manager)
- Maxine Hlaba (Executive Secretariat)
