Ripple and Stellar Backed in Secret U.S. Plan to Hit G20 Payment Targets

A newly surfaced confidential report from the U.S. Faster Payments Council (FPC) has revealed strong institutional backing for Ripple and Stellar as key players in efforts to meet the G20’s global cross-border payment targets by 2027 and 2030. Dated January 14, 2025, the report outlines how U.S. payment systems can align with international goals of speed, cost reduction, access, and transparency.

According to research shared by crypto analyst SMQKE, the FPC report identifies blockchain-based companies Ripple and Stellar as strategic partners in driving innovation for cross-border payments. The companies point out that using XRP and XLM makes their platforms faster and more affordable for conducting cross-border transactions.

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Its main goal is to get all financial institutions to use ISO 20022 for messaging. SWIFT asks domestic providers in the U.S. to follow its schedules to stay compatible with the global payment system. It is hoped that ISO 20022 will introduce structure to messaging systems and boost compatibility between financial organizations.

In addition to standardization, the FPC believes that connecting U.S. real-time payment systems to global networks is extremely important. Using The Clearing House’s RTP and the Fed’s FedNow is thought to be crucial for making instant transfers across borders available around the clock.

Blockchain Firms Tapped to Cut Costs and Improve Transparency

The report points to blockchain and distributed ledger technologies as critical tools in achieving the G20’s goal of reducing the average cost of cross-border payments to below 1 percent. Ripple and Stellar are specifically mentioned for their ability to simplify the payment process through token-based transfers.

Uniform APIs and similar infrastructure are suggested to facilitate rail connections across national borders. They are necessary to lower costs, process claims faster, and ensure that all systems work together better.

Concern for transparency is strong. The FPC recommends that businesses can see where their transactions are at any time, see all the associated fees and rates, and know when their deliveries will arrive. Technologies like SWIFT GPI and blockchain analytics are being promoted to help build trust and better explain things to customers.

Furthermore, the report asks for maintaining international regulations like the FATF’s AML rules and the EU’s GDPR regulations. Secure global payments are supported by meeting risk management and compliance requirements.

A further key recommendation is to make services available to smaller banks and fintechs. The FPC believes that better access and inclusion will allow more people in underbanked communities to use the benefits of these new technologies.

The last point made in the report is that widespread use will only happen if both stakeholders and the industry work together. People agree that alerting others and joining global efforts are vital for changing how payments work over borders.

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