The Arab Regional Working Group on Financial Technology released a “Practical Guide” for Arab central banks.
The working group advised Arab central banks to improve their “messaging protocols” using systems such as SWIFT and RippleNet.
This comes just two days after it was revealed that Ripple partner The Clearing House had begun working with Wells Fargo to create a payment system alternative to SWIFT.
The document also mentions XRP. According to the report, XRP is a unique cryptocurrency because it is designed for payments, unlike most speculative cryptoassets.
The Advisory Body believes that Ripple plays a major role in the future global financial infrastructure based on blockchain.