In a recent Federal Reserve Bank Atlanta Policy Hub captioned “An Introduction to Web3 with Implications for Financial Services,” XRP was mentioned as an “international payment medium.”
The report reiterates the relevance of Ripple’s business model as it uses XRPL to meet cross-border settlement needs at a low cost.
XRP Facilitates Cross-Border Settlements
The XRP Ledger operates as an efficient institutional and cross-border payment medium with low-cost transactions of $0.0002 at a speed of 3-5 seconds.
The network is also scalable completing 1500 transactions per second and boasts of green attributes stemming from its carbon-neutral and energy-efficient operations.
While the report focused on bolstering the effect of Web3 on financial services, the Atlanta Federal Reserve Bank also mentioned the relevance of XRP and Stellar network in value transfers.
According to the report, XRP is…
