Stellar

In a recent development that has sent ripples through the crypto world, the International Monetary Fund (IMF) has lauded the potential of digital assets such as XRP and XLM over Bitcoin (BTC) for revolutionizing cross-border payments. The IMF&#39;s endorsement is rooted in the growing recognition of the transformative power of cryptocurrencies and their impact on financial markets.The IMF&#39;s acknowledgment comes via a <a href="https://www.imf.org/en/Publications/WP/Issues/2023/09/30/New-Evidence-on-Spillovers-Between-Crypto-Assets-and-Financial-Markets-539476" rel="noopener noreferrer nofollow">document</a> titled &#34;New Evidence on Spillovers Between Crypto Assets and Financial Markets.&#34; This paper presents three models for the future of cross-border payments. The first model highlights a private settlement asset and marketplace, exemplified by Ripple&#39;s XRP. The second model points to an open-source marketplace, like Stellar&#39;s XLM. The third model revolves around a marketplace and settlement mechanism, making reference to the Lightning Network and Bitcoin.What makes the IMF&#39;s stance intriguing is its emphasis on the potential advantages of a public solution, operated by a regulated private entity, over Bitcoin. In this context, Ripple and its native asset, XRP, fit the bill as a regulated private entity that aligns perfectly with established financial integrity standards.<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">XRP</a>, currently trading at $0.5705, has seen a notable surge of 5.97% in the past week. Its market capitalization stands at $30,558,114,524, placing it as the fifth-largest cryptocurrency. The 24-hour trading volume for XRP has soared to $1,620,493,491, capturing 104.57% of its market cap.On the other hand, <a href="https://coinmarketcap.com/currencies/stellar/" rel="noopener noreferrer nofollow">XLM</a>, the native cryptocurrency of Stellar, is priced at $0.1171, marking a 2.42% gain over the past week. With a market cap of $3,261,908,460, XLM ranks 23rd among cryptocurrencies. The 24-hour trading volume for XLM stands at $101,956,740, representing 82.61% of its market cap.Read full article at <a href="https://cryptotale.org/imf-hails-xrp-and-xlm-as-promising-solutions-for-cross-border-payments/" rel="noopener noreferrer nofollow">CryptoTale.</a>

IMF Hails XRP and XLM as Promising Solutions for Cross-Border Payments

CryptoTale

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