Keep pulling the thread on Kristin Forbes.
A 2023 International Monetary Fund document on cross-border payments cites Ripple's XRP and Stellar as examples of a "private settlement asset and a marketplace" model.
A representative from BNY Mellon stated at a World Economic Forum panel that interoperability is the most consequential development in finance, specifically across public and private markets, on-chain and off-chain systems, and various asset classes.
CZ of Binance expressed skepticism about Bitcoin's use for payments, stating that after 10 years of development, it has still not achieved this goal.
Ripple has selected BNY Mellon to serve as the primary custodian for the U.S. dollar reserves backing its stablecoin, RL USD.
Kristin Forbes, who moderated a World Economic Forum panel, serves on the advisory boards for the Federal Reserve Bank of New York, the International Monetary Fund, and the Bank for International Settlements.
A 2023 International Monetary Fund document titled "Trust Bridges and Money Flows" states that current cross-border payment systems are expensive, slow, and opaque.
The same 2023 International Monetary Fund document on cross-border payments also mentions Strike, which leverages Bitcoin and the Lightning Network, as another potential settlement model.
Kristin Forbes noted that El Salvador's initiative to promote Bitcoin for remittances failed to gain significant user adoption despite major marketing efforts.
Kristin Forbes suggested that the widespread use of uniform AI trading algorithms could increase market volatility by promoting momentum trading and herding behavior.
A BNY Mellon representative stated that new financial technology will improve collateral management by reducing settlement times and enabling collateral to be moved in near real-time.