Finance ministers, central bank governors, and industry leaders convened in Bangkok for the IMF and World Bank Annual Meetings. Ripple secured a seat at the table.
Crypto commentator Xaif (@Xaif_Crypto) spotlighted Ripple’s involvement in the gathering through a recent post. Rahul Advani, Ripple’s policy lead, participated as a speaker on the Atlantic Council GeoEconomics Center’s panel dedicated to tokenized settlement markets.
The discussion tackled a central challenge in international finance: how regulation keeps pace with technology without fracturing the liquidity required to make it functional.
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.
— Xaif Crypto (@Xaif_Crypto) October 24, 2026
Banks Are Already Moving
Xaif detailed three key takeaways stemming from Ripple’s participation. The initial point focuses on how institutions actually evaluate stablecoins. Financial institutions employ a specific set of criteria: a stablecoin must maintain a strict one-for-one backing, function under the capital requirements set by the Basel Committee, operate with round-the-clock liquidity, and integrate seamlessly with existing treasury and custody systems.
Advani validated this perspective in a separate LinkedIn post, noting that “where those line up, it is already in production.” This perspective shifts the discourse away from pure speculation and toward operational realities.
Recognition is the Missing Piece
The second takeaway deals with the regulatory environment. Stablecoin issuer regulations have achieved broad convergence across major global markets. The U.S. GENIUS Act, the EU’s MiCA framework, and rules implemented in Japan, Hong Kong, and Singapore show growing alignment.
However, cross-border recognition remains absent. Xaif pointed out the inherent danger, warning that the absence of mutual recognition for regulated digital money across international borders threatens to recreate market fragmentation on brand-new technological foundations.
Advani reinforced this view in his update, characterizing the situation as “rebuilding fragmentation on new rails.” While the technical systems advance, the coordination challenge persists.
The Bigger Story
The third observation reframes the broader narrative. Xaif emphasized that debates surrounding dollar versus non-dollar stablecoins are secondary considerations. The fundamental shift is the widespread transition from traditional fiat to onchain money. Advani clarified that domestic-currency and dollar stablecoins fulfill different roles, where one serves as the cross-border liquidity layer and the other acts as the domestic settlement instrument.
For this ecosystem to operate efficiently at scale, both functions require backing. Localized issuance must receive encouragement, and compliant foreign stablecoins must retain market access.
Ripple’s Place at the Table
Advani also highlighted that a dinner conversation with Stefan Ingves—the former Governor of Sveriges Riksbank and former Chair of the Basel Committee—offered a chance to explore how historical capital rules from traditional finance now apply directly to stablecoins, proving that institutional convergence is happening now rather than later.
Xaif’s commentary accurately underscored the importance of Ripple’s presence. Global financial institutions at the highest levels are actively navigating these exact hurdles in real time, with Ripple participating directly in those discussions.
Frequently Asked Questions
What event did Ripple attend in Bangkok?
Ripple participated in the IMF and World Bank Annual Meetings held in Bangkok.
Who represented Ripple at the event?
Rahul Advani, Ripple’s policy lead, spoke on a panel hosted by the Atlantic Council GeoEconomics Center.
What were the main topics discussed?
Discussions centered on tokenization, stablecoins, cross-border payments, regulatory alignment, and how traditional capital rules apply to digital financial systems.
What are the criteria banks use to evaluate stablecoins?
Institutions look for strict one-for-one backing, compatibility with Basel Committee capital requirements, 24/7 liquidity, and integration with existing custody and treasury infrastructure.
Explained in this article
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A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.
Crypto prices are volatile, and governments are still deciding how to regulate it.
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The public institution that manages a country's currency, money supply and benchmark interest rate, such as the Federal Reserve or the Reserve Bank of India.
Its decisions on rates and money supply move loan costs, currencies and markets for everyone in the economy.
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A political and economic union of European countries with a single market, shared laws in many areas and, for many members, the euro.
EU rules on trade, technology and competition affect companies and people far beyond Europe.
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Written by
Elara Winter
