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UN Endorses Ripple and Stellar as Pillars of Future Global Payments Network

  • The United Nations (UN) has endorsed Ripple and Stellar as crucial elements in the future global payment network.
  • According to a video report, a three-phase model was outlined to integrate global payment networks.
  • Ripple and Stellar would play a significant role in this future payment structure, connecting existing networks such as Swift, Visa, Mastercard, and Celo.
  • The model includes phases like creating a globally distributed directory, tokenized compliance, and instant clearing and settlement using distributed ledger technologies.

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