Digital payments are essentially just a series of IOUs passed between various financial institutions. This requires institutions across the world to engage in complicated legal arrangements and pre-fund currencies with each other to alleviate counterparty risk created by IOUs. These delays and inefficiencies, especially in such uncertain times, underpin the current correspondent banking system and highlight the need and importance of real-time payments—now. https://ripple.com/insights/why-real-time-payments-are-more-important-than-ever/?utm_source=twitter&utm_medium=organic_social
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