Ripple has now become an official member of the Bank for International Settlements (BIS) "Payment, clearing and settlement in cross-border transactions and expanding interoperability". The joining took place on August 9th and is part of a wider initiative by the "Committee on Payments and Market Infrastructures" of the BIS.

The committee consists of 33 entities, with Ulrich Bindseil, General Manager of Market Infrastructure and Payment at the European Central Bank, serving as chairman. The Bank for International Settlements has become one of the main international financial institutions promoting monetary and financial cooperation among central banks of various countries.