The Bank of England (BoE) has published its Fintech Accelerator Proof of Concept, which explores the use of Ripple's Interledger Protocol for synchronized settlement of payments. The aim is to enable the movement of two currencies in two simulated Real-Time Gross Settlement (RTGS) systems. The BoE is considering adding new functionality to the existing platform to enhance cross-border settlement, and Ripple's Interledger Protocol is being evaluated as a potential technical solution. This collaboration could lead to more global recognition for Ripple. In addition, Ripple Labs has been making strides in tokenization and stablecoins, with plans to advance in these areas in the future.



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