TechFlow reported, according to Cointelegraph, that the Bank for International Settlements (BIS) recently announced the establishment of a new working group on cross-border payment interoperability and extensibility (PIE), including Ripple, a blockchain-based digital payment network.
The working group aims to strengthen cross-border payments and achieve the G20-endorsed goals for cross-border payments. It will improve access to payment systems, extend operating hours, and establish connections between different payment systems, including linking APIs and messaging protocols.
Ripple is collaborating with organizations such as Mastercard and SWIFT to support the BIS in enhancing cross-border payment interoperability.
The Bank for International Settlements emphasized that public-private collaboration is key to the G20's cross-border payment agenda.
