Ripple's XRP and blockchain tech are key to helping the G20 achieve faster, cheaper cross-border payments by 2030.

Adoption of Ripple's solutions could boost XRP price to $10-$20 in 2025, with potential long-term growth to $1,000.

The U.S. Faster Payments Council (FPC) has highlighted how U.S. payment companies can play a big role in making global payments faster, cheaper, and more reliably.

The G20 is pushing hard to improve this space by 2030, seeing it as key to boosting trade, economic growth, and development. They plan to make payments quicker, more affordable, and easier to access.

The G20 has set clear targets for retail, wholesale, and remittance payments, and it plans to halve the average cross-border payment cost to 1% or less by 2027 and ensure that 75% of payments are completed within an hour.

To meet the goals, the US Faster Payments Council (FPC) urges domestic providers to adopt ISO 20022, embrace interoperability, and use blockchain technology like Distributed Ledger Technology (DLT). It also stressed points like focusing on financial inclusion and promoting inter-industry collaborations. It specifically noted Ripple and Stellar as key players that could improve the global cross-border payment landscape.

“[We] highlight the role of U.S. providers in initiatives to improve cross-border payments, notably highlighting the potential of emerging technologies such as blockchain, exemplified by firms like Ripple and Stellar,” the FPC stated in a report.

Highlighting the pressing need for innovation in the domain of cross-border payments, the council pointed out that the existing system is slow, expensive, and opaque.

“Global demand is increasing for faster, cheaper, and more transparent cross-border payments, operating in a market that moves $34 trillion annually and presents a significant opportunity for U.S. providers to export their capabilities and leadership in payments to the world,” the FPC said.