Ripple’s Director of Product, Craig DeWitt, has joined the United States Faster Payment Council’s cross border working group.
The Ripple Labs Inc. personnel made the disclosure on his Twitter handle and showed his excitement for getting to the front in reshaping the cross-border remittance industry.
The Faster Payments Council (FPC), an industry-led membership organization, was launched with the mind of facilitating an unparalleled payment system that makes it easy for anyone or any firm to execute transactions securely and safely to anywhere, at any time with almost immediate payment delivery confirmation.
Ripple’s involvement in the organization is a confirmation of the firm’s sincerity to immediate cross-border payment.
The organization is principle-driven but centered on inclusiveness, transparency and employ collaboration in solving problems hindering broad faster payment usage in the US.
Any Opportunity for XRP?
It is almost a year that Ripple’s VP of Strategic Accounts, Pat Thelen, joined FPC. He was among the maiden directors and elected board members of the council selected from different financial institutions across the US.
It is not clear if Thelen’s one-year term has been renewed since she took the mantle of leadership in May 2019.
The inclusion of Ripple in the firm should open diverse opportunities for Ripple and digital currency XRP.
On the 12th of May, the Federal Reserve joined the U.S Faster Payments Council as its founding sponsor. This, according to the council, was the impact of the relentless effort of the Federal Reserve’s Faster Payments Task Force.
The FPC says it won’t have achieved so much without the Fed’s magnanimous investment and foresight.
Walmart is Involved
Beyond that, FPC recently named Walmart Executive Reed Luhtanen as its new Executive Director. The experienced director succeeded Kimberly Ford, the council’s first executive director.
The increasing collaboration and partnership within the council is expected to heighten Ripple’s involvement in the remittance world, and may possibly increase the enterprise blockchain firm’s growing number of collaborators.
The executive director recently revealed that FPC is exploring QR codes as the world battle COVID-19, resulting in the need for a seamless payment system.
The council, therefore, inaugurated an End-User QR Code Interface Work Group that is being chaired by Walmart’s Senior Director Payments Service, Matt Howarter.
The involvement of Walmart and some other big financial firms may get Ripple more partners, thereby increasing the usage of XRP.