XRP Set to Dominate? Ripple Pushes ILP Integration With Global Banks

Ripple is accelerating its vision for the future of global finance by promoting a deeper integration between its digital asset XRP and the Interledger Protocol (ILP). Newly surfaced internal documents indicate that the company’s long-term goal is to create a unified system where Ripple software, ILP, and XRP function in harmony.

According to Crypto Researcher SMQKE, who shared the material, Ripple’s ideal payment solution relies on a coordinated system involving Ripple software, XRP, and ILP. Executive Vias confirmed this direction, stating that the most effective version of Ripple’s solution would see “Ripple, ILP, and XRP work seamlessly together.” This approach targets many essential issues with international money transfers, namely slow processing, unnecessary expenses, and making different systems interact.

An exciting step for the vision was Ripple’s controlled trial with 12 financial institutions. They performed live tests involving XRP to check how the money would be transferred and settled. Vias mentioned that “We were able to get 12 banks to accept digital assets for the first time,” meaning Ripple has reached a significant achievement in helping banks use digital assets.

Also Read: Pundit Believes Elon Musk Will Use XRP as Official Token of X

Ripple Targets Interoperability and Liquidity in Global Payment Systems

Alongside XRP, Ripple is promoting ILP as a tool for bridging various financial networks. This protocol allows banks to move funds across disconnected systems, enabling faster and more efficient payment flows. When combined with XRP, it eliminates the need for intermediaries by offering direct settlement capabilities.

Ripple executive Thomas also noted a growing level of interest from financial institutions regarding XRP. Even though a live rollout has not been initiated, the company is optimistic that broader adoption could happen soon.

At the same time, Ripple is working to comply with strict regulations, as Ramamurthi admitted that adhering to rules is not easy, especially when the speed of innovation outpaces regulation.

Integrating XRP and ILP into banking systems demonstrates that Ripple is making an effort to replace old and slow processes with innovative ones. The increased involvement of institutions and advancing technology may put XRP at the forefront of the next stage of international payments.

Also Read: Ripple’s RLUSD Crashes 60% as Minting Halts and XRP Volume Surges 75%

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