Ripple Leaves BIS Cross-Border Payments Task Force

Ripple is no longer listed as a private‑sector participant on the Bank for International Settlements’ cross‑border payments task force. The change appears on the task force’s current membership roster published by the BIS.

The BIS task force brings together central banks, payments firms and technology providers to develop recommendations and technical workstreams aimed at making cross‑border payments faster, cheaper and more transparent.

The removal is reflected in the task force’s public documentation and in participant lists circulated by the BIS. Requests for comment to both the BIS and Ripple did not receive immediate responses.

Ripple provides software and services for cross‑border transfers, including a payments network and products that use the XRP ledger to provide liquidity on demand. The company has worked with banks, money‑transfer firms and payment processors to deploy its technology as an alternative to traditional correspondent banking.

Ripple has been in a legal dispute with the U.S. Securities and Exchange Commission since 2020, when the regulator sued over sales of XRP. Parts of that litigation were resolved in 2023; other elements remain subject to appeals and related proceedings. The company has previously stated that regulatory clarity is important for its client work and for engagement with public‑sector partners.

BIS task force outputs are intended for use by policymakers and industry and feed into broader international efforts to improve cross‑border payment systems. The BIS continues to publish updates on the task force’s workstreams and participants on its website.