Social media influencer John Squire has spotlighted Ripple’s inclusion in the BIS Committee on Payments and Market Infrastructures’ cross-border task force, referencing an official document dated 31 July 2023.
The list features Ripple ahead of SWIFT, prompting Squire to post: “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 focuses on improving interoperability and efficiency in global cross-border payments. Chaired by Ulrich Bindseil of the European Central Bank, it includes representatives from Mastercard, CIPS, PayNet Malaysia, RTGS Global, CLS, Swift, and Ripple. Ripple’s representative is Rene Huijsen, listed as Director of Payment Operations.
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? pic.twitter.com/hgLefsmmqh
— John Squire (@TheCryptoSquire) April 11, 2025
Ripple’s Strategic Placement Draws Attention
Though the BIS document does not assign leadership roles, Squire’s emphasis on Ripple’s position before SWIFT was seen by many as symbolic of the company’s growing influence in institutional finance. The $300 trillion figure cited reflects the potential scale of global cross-border transactions that could be optimized with more efficient systems.
Squire’s message suggests that XRP, while not mentioned directly in the BIS release, is positioned to play a key role in this market through Ripple’s solutions. Ripple’s On-Demand Liquidity (ODL), which utilizes XRP, has been promoted as a tool for faster, lower-cost international settlement.
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Digital Asset Community Responds
Responses to Squire’s post reflected confidence in Ripple’s global relevance. “When Ripple’s sitting at the BIS table, you already know it’s bigger than hype,” wrote X user X Finance Bull.
Another user, Emily, added, “Ripple is definitely making big strides with the BIS task force!” Both comments suggest a growing belief that Ripple is more than a tech firm—it is seen as a serious player in shaping the future of payments.
Ripple is one of the few blockchain-focused entities alongside established financial infrastructures. Its placement with institutions like Mastercard, SWIFT, and The Clearing House indicates recognition of its role in cross-border innovation.
Ripple’s Role in Global Payment Standards
The BIS task force seeks to establish frameworks that support faster, cheaper, and more transparent international payments. While the document does not confirm using XRP or RippleNet technology, Squire and others interpret Ripple’s participation as a signal of trust from global standard-setting bodies.
Ripple’s ongoing involvement with such groups strengthens the view among supporters that it is well-positioned to contribute to a new phase in global financial infrastructure, where interoperability and digital assets could play a larger role.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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