Ripple has launched a new platform, Ripple CBDC Platform, which aims to enable central banks, governments, and financial institutions to issue their own central bank digital currency (CBDC). Built on the same blockchain technology as the XRP Ledger, this platform can be used to issue stablecoins or wholesale and retail CBDCs on a private ledger. The platform will allow for “holistic management and customization of the entire life cycle of fiat-based central bank digital currency, transaction, and distribution.” Ripple’s VP of Central Bank Engagements & CBDCs, James Wallis, said that the company believes this platform will help solve problems for central banks and governments that are devising plans and developing strategies for CBDC implementations. Ripple has also partnered with the Republic of Palau to develop its national digital currency using the platform. Additionally, Ripple is participating in the inaugural e-HKD pilot program led by the Hong Kong Monetary Authority to demonstrate the use case for its CBDC platform. Ripple has teamed up with Taiwan’s Fubon Bank to build a product for real estate asset tokenization and equity distribution leveraging e-HKD. The price of XRP continues to trend upwards.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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