Cryptocurrency

Ripple hints at new CBDC announcements

Anthony Welfare, Ripple’s (XRP) central bank digital currency (CBDC) adviser, said the company is conducting “several pilots” in its work related to the CBDC, which will go public in the coming weeks. clarified.

Welfare issued a statement in response to St. Smosaba’s tweet, sharing a screenshot showing that Ripple “has several CBDC pilots underway, including the Royal Monetary Authority (RMA) of Bhutan and the Republic of Palau.” did.

Ripple’s CBDC partnership

After launching a private version of the XRP Ledger for central banks last year, Ripple has landed several partnerships with countries considering CBDC projects.

Information about the CBDC pilot has yet to be made public, but partnerships with Palau and Bhutan have been made public since last year.

Ripple has partnered with the Royal Monetary Authority of Bhutan for a CBDC pilot in 2021. This project will help countries issue digital ngultrums to improve cross-border payments.

Partnership with Palau in November 2021. However, we are working on a USD-backed stablecoin for island nations.

Ripple joins digital dollar project

Blockchain companies are making more moves these days. This is his first of four participants in the Digital Dollar Project, which focuses on exploring the potential of the digital USD.

The Digital Dollar Project, a non-profit organization focused on the digital version of the US dollar, recently announced Starting a sandbox program. The program will launch in his October, with an initial focus on cross-border payments.

In addition to this project, Ripple is also a partner of the Digital Euro Association think tank, which it joined in February. The association is also committed to developing his CBDC on the continent.

Meanwhile, Ripple is still preoccupied with its legal battle with the SEC over the XRP token. The lawsuit has been in court since 2020 and has had a significant impact on the value of Ripple XRP.However, some legal experts believe A settlement is possible within the next few months.

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