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Social media influencer John Squire has highlighted Ripple’s significant placement in the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures’ (CPMI) cross-border task force. The inclusion, noted in a July 31, 2023, document, places Ripple ahead of traditional financial giants like SWIFT. Squire, known for his outspoken support of Ripple, made waves by posting: “Ripple leads BIS cross-border task force. $300T market isn’t a dream, it’s a target. Private institutions + global standards = $XRP in motion. Still doubting the utility?”
The task force, which aims to enhance interoperability and efficiency in global cross-border payments, is chaired by Ulrich Bindseil of the European Central Bank. It includes major financial players such as Mastercard, CIPS, PayNet Malaysia, RTGS Global, CLS, and SWIFT, alongside Ripple, represented by Rene Huijsen, Director of Payment Operations.
🌍 Ripple leads BIS cross-border task force ✅
— John Squire (@TheCryptoSquire) April 11, 2025
$300T market isn’t a dream, it’s a target. Private institutions + global standards = $XRP in motion.
Still doubting the utility? pic.twitter.com/hgLefsmmqh
Ripple’s Strategic Position in Institutional Finance
Although the BIS document does not assign official leadership roles, Squire’s emphasis on Ripple’s top-tier positioning—preceding SWIFT—has captured the attention of many in the crypto and finance sectors. The $300 trillion figure cited by Squire reflects the immense scale of global cross-border transactions, illustrating the potential market that could be transformed with more efficient payment systems.
When Ripple’s sitting at the BIS table, you already know it’s bigger than hype.
— X Finance Bull (@Xfinancebull) April 11, 2025
Squire’s message underscores the growing belief that Ripple, through its On-Demand Liquidity (ODL) solution, which leverages XRP, is poised to revolutionize international settlements by providing faster, cheaper alternatives to traditional banking systems.
Also Read: Ripple’s $50M Fine to SEC Might Be Paid in XRP—Here’s What It Means for U.S. Crypto Reserves
Ripple’s Rising Influence in the Global Financial Landscape
Ripple’s presence alongside established financial powerhouses like Mastercard and SWIFT signals its increasing recognition as a key player in reshaping global payment systems. Digital asset enthusiasts have taken to social media to voice their confidence in Ripple’s role in global finance. One user commented, “Ripple is definitely making big strides with the BIS task force!”
While the BIS document does not specifically mention XRP or RippleNet, Ripple’s involvement in such high-level discussions suggests growing trust from international regulatory bodies. This further cements Ripple’s position as a significant force in the future of cross-border payments, with its technology paving the way for faster, more transparent financial systems.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
