The International Monetary Fund (IMF) has recognized XRP as an option for enhancing cross-border payments in a document titled "Trust Bridges and Money Flows." The paper highlights the challenges faced with cross-border payments and possible solutions for addressing them, including the use of swap lines, tokenized money, and a transnational marketplace.

The paper also suggests further consideration of XRP as a possible solution, given its low fees and swift transaction time. Ripple has already leveraged XRP for its On-Demand Liquidity (ODL) service, and HSBC has also called attention to the XRP Ledger's capabilities in cross-border payments.