Central banks, led by the Bank of International Settlements (BIS), are exploring new cryptographic technologies to improve cross-border payments. Project Agoura, a collaboration involving major central banks and financial institutions, aims to create a multi-currency unified ledger for faster, cheaper, and more transparent transactions. Evidence suggests Ripple's XRP technology is a leading candidate for this transformation, supported by personnel overlaps and technological parallels.
For many years, a simple strategy has guided observers of financial systems: follow what central banks do, not just what they say. The Bank of International Settlements (BIS), often called the "central bank of central banks," located in Basel, Switzerland, plays a pivotal role in shaping global financial infrastructure. With 63 of the world's most powerful central banks as members, including the New York Fed and the Federal Reserve as shareholders, the BIS's actions provide critical insights into the future of finance.
This article explores recent developments and evidence indicating that central banks are gravitating towards Ripple's XRP technology to revolutionize cross-border payments.
The BIS is unique in the global financial landscape. It enjoys sovereign immunity, effectively making it its own country with its own police force. This status means it operates above the law in many respects, underscoring its significant influence.
In September of the previous year, the BIS released a presentation that went largely unnoticed, with only about 3,000 views on YouTube. This presentation unveiled a major clue about the future direction of global payments.
Project Agoura is a global public-private collaboration involving seven central banks, including those representing five major currencies, and over 40 financial institutions. The project aims to test a multi-currency unified ledger for wholesale cross-border payments.
The core hypothesis of Project Agoura is that by implementing the correspondent banking model on a programmable platform, it is possible to increase efficiency, lower costs, and reduce risks associated with cross-border wholesale payments.
Currently, cross-border payments can take days to settle and involve multiple fees, making them inefficient and expensive. Project Agoura aims to unlock trillions of dollars of trapped capital, making the global economy more efficient.
RippleNet was designed with the thesis that crypto liquidity could eventually support robust global payments, including large payments. The network allows customers to benefit from fiat-based transactions and switch to On-Demand Liquidity (ODL) when the market matures.
Even former U.S. President Donald Trump acknowledged the outdated nature of the current financial system and the need for a 21st-century upgrade using state-of-the-art crypto technology.
The terminology and concepts used by the BIS and Project Agoura closely mirror those found in Ripple's technology and playbook. This includes:
Examining personnel connections provides further evidence of Ripple's influence:
Anna Botin also sits on the Bilderberg Steering Committee, a group known for planning global economic strategies, alongside notable figures such as Peter Thiel and Alex Karp.
Further connections include the Wallenberg family, a wealthy Swedish billionaire family involved in global finance, with ties to Ripple through Brooks Entwistle, a former Ripple senior vice president now on the board of EQT, a Wallenberg fund.
Two logical questions arise:
The likely reasons include:
Historically, foundational technologies like TCP/IP and SWIFT existed before widespread adoption, suggesting a similar pattern for the "internet of value."
Project Agoura is currently in its final design phase, after which the BIS will issue a Request for Proposal (RFP) to select a technology partner. Given the ongoing regulatory clarity, such as the recent green light for Ripple in the UK, and Ripple's continuous acquisitions and technological advancements, the stage is set for Ripple's XRP to become central to the future of global payments.
The evidence points to a significant shift in how central banks approach cross-border payments. With Project Agoura and the involvement of major financial institutions, Ripple's XRP technology appears to be the leading candidate to underpin the next generation of global payment infrastructure. This transformation promises faster, cheaper, and more transparent international transactions, unlocking trillions in economic value and modernizing a system long overdue for innovation.
For those interested in deeper insights and exclusive content, there are platforms offering weekly videos, Q&A sessions, and giveaways related to Ripple and the evolving financial landscape.
This comprehensive overview highlights the convergence of central banking initiatives and Ripple's technology, marking a pivotal moment in the evolution of global finance.
