With central bank governors, finance ministers, and industry leaders convening in Bangkok for the IMF and World Bank Annual Meetings, Ripple secured a seat at the table.
Crypto commentator Xaif (@Xaif_Crypto) drew attention to Ripple’s involvement in a recent post, highlighting that Rahul Advani, Ripple’s policy lead, participated in a panel hosted by the Atlantic Council GeoEconomics Center focused on tokenized settlement markets.
The discussion tackled a central challenge in international finance: how regulation keeps pace with technology without fragmenting the liquidity that gives it value.
JUST IN: @Ripple was in the room at the IMF and World Bank Annual Meetings in Bangkok, alongside finance ministers and central bank governors.
The topic: how tokenization, stablecoins and cross-border payments fit into the financial system of the future.
Ripple’s three key… https://t.co/WBcmoZEsVa pic.twitter.com/s03YWbxnsZ
— Xaif Crypto (@Xaif_Crypto) October 24, 2026
Banks Are Already Moving
According to Xaif, Ripple’s participation yielded three key takeaways. The first focuses on how institutions actually evaluate stablecoins through a specific checklist. Financial institutions require a stablecoin to be strictly one-for-one backed, compliant with Basel Committee capital rules, continuously liquid around the clock, and integrated with existing treasury and custody systems.
In a LinkedIn post of his own, Advani emphasized that “where those line up, it is already in production,” shifting the dialogue from speculation to practical implementation.
Recognition is the Missing Piece
The second takeaway points to the current state of regulation. Major global jurisdictions have largely achieved convergence regarding stablecoin issuer guidelines, including the U.S. GENIUS Act, the EU’s MiCA framework, and rules established in Japan, Hong Kong, and Singapore.
Yet, cross-border recognition remains absent. Xaif warned that the absence of mutual recognition for regulated digital currencies across borders risks recreating old fragmentations on entirely novel infrastructure.
Advani underscored this challenge in his update, referring to it as “rebuilding fragmentation on new rails,” noting that while the technology evolves, the coordination hurdles persist.
The Bigger Story
The third observation reframes the overarching narrative. Xaif pointed out that debates over dollar versus non-dollar stablecoins are secondary to the larger transition from fiat to onchain currency. As Advani noted, dollar-denominated and local-currency stablecoins fulfill distinct roles, with one acting as the cross-border liquidity layer and the other serving as the domestic settlement asset.
Succeeding at scale requires backing both sides of the equation by encouraging domestic issuance while ensuring well-regulated foreign stablecoins are not locked out.
Ripple’s Place at the Table
Advani also mentioned that a dinner with Stefan Ingves—former Chair of the Basel Committee and former Governor of Sveriges Riksbank—provided an opportunity to discuss how capital rules once reserved for traditional finance now apply directly to stablecoins, signaling that regulatory convergence is actively underway.
As Xaif’s post illustrated, the highest tiers of global financial leadership are working through these developments in real time, with Ripple directly involved in the discussions.