Ripple and The NACHA Alliance | dashnewsRippler
Recently as we know, there has been quite a buzz of speculation around the new FedNow service set to be launched by the Federal Reserve in the year 2023 or 2024.
Ripple announced on June 9th, 2014 that they have joined the NACHA Payments Innovation Alliance. (Source) The National Automated Clearing House Association is the administrator of the ACH Network which is the backbone of U.S. payments and they move trillions of dollars in debits and credits.
This was announced some time ago but I believe that not many XRP community members are aware of this massive alliance that Ripple had joined in its early days. Check out this interesting info graph that came along with the insights article.
NACHA also works very closely with the Federal Reserve. I’m speculating that Ripple joining the NACHA Payments Alliance was the reason that Ripple ended up having close engagement with the Federal Reserve by having Ripple’s Ryan Zagone join the board of the Faster Payments Task Force.
This is a very interesting relationship of Ripple that I am not aware of, and NACHA is also a massive Alliance and they have 11,000 members.