U.S. lawmakers debate Ripple's blockchain plan to modernize payment systems
A recent U.S. House Financial Services Committee hearing put the spotlight on modernising payment systems. Ripple's proposals for faster, blockchain-based transactions were highlighted as a potential model. The discussion also included suggestions from major firms like Visa and Intuit to improve the ACH network. The hearing saw Representative Sam Liccardo question Randall Guynn, the Federal Reserve's Director of Supervision and Regulation, about the slow pace of payment modernisation. Liccardo pointed to industry-backed ideas, including Ripple's February 2026 proposal for pre-funded ACH accounts. These accounts would support stablecoin issuers like RLUSD, aiming to cut risk and speed up settlements.
The ACH network handled roughly $93 trillion in transactions in 2025, with over $61 trillion coming from credit payments. Despite its scale, lawmakers and companies argue the system needs upgrades. Ripple's model, along with Intuit's pre-funding suggestions, was presented as a way to make transfers quicker and cheaper.
Other proposals included stricter transaction limits and better monitoring tools. Visa also contributed ideas to streamline the network. However, no official response from the Federal Reserve to Ripple's proposal has been recorded so far. The hearing underscores a shift toward blockchain-based solutions in traditional finance. Ripple's inclusion in the discussion reflects broader interest in stablecoins and faster payments. If adopted, such changes could reshape how the U.S. processes transactions in the coming years.
