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Something’s Cooking between IMF and Ripple

November 23, 2018 20:01
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Ripple and the IMF’s association has finally been revealed. At the Fintech Festival earlier this month, the two were represented in conversation and collaboration. IMF chairwoman gave a sweeping speech endorsing digital currencies, perhaps even vaguely describing XPR in particular. The two have already shared a history, especially through Ripple’s work with central banks.

Ripple and IMF meet in Fintech Festival

On November 12th at the 2018 Singapore Fintech Festival, Ripple CEO Brad Garlinghouse shared the stage with IMF’s Ross Leckow. They discussed the role of blockchain in the Fintech industry, focusing on the ASEAN region. They agreed that it is a game-changer in the system of global payments.

Garlinghouse states that blockchain will have a lasting impact on the global financial sector: “We must totally change the nature of how payments flow around the world. We must remove the friction and make the stream of value more instantaneous and reliable.”

The conversation between the two organizations is not new, but is more prominent and public than ever before. The plot thickens:

IMF speech endorses digital currencies (and Ripple?)

The next day at the Fintech Festival, the IMF held and published a what may be a historical speech at the Fintech Festival. The mighty and monolithic financial superpower the IMF has publicly announced it will change with the time, and embrace digital currencies.

In her speech, IMF’s managing director and chairwoman Christine Lagarde urged central banks follow “the winds of change” and consider issuing their own digital currencies.