Ripple's XRP and blockchain technology are expected to play a key role in achieving the G20's cross-border payment goals. According to a new report released by the U.S. Fast Payment Committee (FPC), Ripple's payment solutions are analyzed to contribute to achieving the G20's international remittance improvement goals by 2030.
In the current international remittance market worth 34 trillion dollars (approximately 48,280 trillion won), demand is increasing for faster, cheaper, and more transparent payment methods. The G20 views this as a key driver of trade, economic growth, and development, and is focusing on improving the speed, accessibility, and cost efficiency of payment systems.
The G20 has set specific targets in retail, wholesale, and remittance sectors. The main goals are to reduce international remittance costs to below 1% by 2027 and 2030, and to ensure 75% of payments are completed within one hour.
The FPC recommended that domestic payment service providers adopt the ISO 20022 standard, ensure interoperability, and utilize blockchain technologies like distributed ledger technology (DLT). It also emphasized strengthening financial inclusivity and promoting inter-industry cooperation. In particular, Ripple and Stellar were identified as key players in improving the global international remittance environment.
Ripple is innovating the global payment market through RippleNet and XRP-based technologies. Ripple's solutions, which comply with global standards like ISO 20022 and utilize blockchain technology, are considered the optimal choice for achieving the G20's payment goals.
Experts predict that as Ripple's solutions are increasingly adopted, XRP prices will show a significant upward trend. It is expected to rise to the 10-20 dollar range by 2025, with a potential breakthrough to 100 dollars in early 2026. In the long term, as technology and network expand, it is forecast to potentially reach 1,000 dollars.
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