Ripple Senior Advisor: Firm To Unveil CBDC Positive Developments Soon
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The Awaited CBDC Announcement
Welfare, a senior adviser at Ripple who oversees CBDC Europe and Global Partnerships, commented on the same thread and hinted that "additional CBDC announcements" would be forthcoming in the "near few weeks." Since testing a private version of the XRP Ledger in March 2021 and offering central banks a platform to safely create CBDCs, the business has grown more involved in creating central bank digital currencies.
Technical Sandbox Program
Last week, the U.S.-based think tank Digital Dollar Project (DDP) said that Ripple was among the first participants in its "Technical Sandbox Program," which examined the possible technical and commercial effects of CBDCs in the country. To promote the growth and development of CBDCs and the Digital Euro together, Ripple also became a supporting partner of the European think tank Digital Euro Association in February.
To enhance cross-border payments, Ripple Labs announced in September 2021 that it would collaborate with the Royal Monetary Authority of Bhutan to test a CBDC in the country of Bhutan. Two months later, the blockchain business teamed up with the Republic of Palau to assist the Pacific island nation in creating a favorable digital currency for the environment. It stated, though, that it will behave more like a stablecoin backed by USD than a CBDC.