BIS Highlights XRPL's Advantages Amid Institutional Adoption Push

The Bank for International Settlements (BIS), often referred to as the central bank for central banks, has been exploring blockchain technology. In a recent publication, the BIS cited XRP Ledger's low fees, three to five second settlement times, and proven track record. Notably, XRP received 101 mentions in this document.

The BIS demonstrated its concept by recording each dataset as a cryptographic fingerprint on the XRP Ledger at approximately $0.000003 per transaction, with verification completing in 1 to 2 seconds under test conditions.

Ripple CEO Brad Garlinghouse weighed in on this development, referencing the Central Bank of the Netherlands's recent move of $11 billion in gold from New York to London. He noted that only 30% of it physically moved, while crypto grew significantly over the same period.

Garlinghouse reposted his perspective after BIS testing with XRPL, emphasizing its low fees, fast settlements, and proven track record.