/cdn.vox-cdn.com/uploads/chorus_asset/file/24016885/STK093_Google_04.jpg)
/cdn.vox-cdn.com/uploads/chorus_asset/file/24808816/Starfield__The_Settled_Systems___Supra_Et_Ultra_____Starfield__The_Settled_Systems___Supra_Et_Ultra_2023_7_25_94252.263_1440p_streamshot.png)
Stepping up its CBDC game, Ripple announced the launch of a new platform for central banks, governments and financial institutions to issue their own central bank digital currency.
Dubbed the ‘Ripple CBDC Platform’, the offering will leverage the same blockchain technology that is used on the XRP Ledger (XRPL). The platform has been developed to address multiple use cases, such as the issuance of wholesale and retail CBDCs on a private ledger or a stablecoin.
Ripple CBDC Platform
According to the San Francisco-based blockchain company, the aim is to “holistically manage and optimize the entire lifecycle of fiat-based central bank digital currency, transactions and distribution.”
Following the development, Ripple’s VP of Central Bank Engagements and CBDCs James Wallis Said,
“As a trusted partner of many central banks, we believe this platform will help solve problems for many central banks and governments who are drawing up plans for CBDC implementation and developing technology strategies. “
The executive added that the platform’s innovative capabilities are expected to help facilitate speedy settlement of both domestic and cross-border payments, reduce risk vectors, and enhance the user experience of sending and receiving digital currency on both sides of a transaction. Is.
As part of its global push for its CBDC platform, Ripple has engaged the Republic of Palau to develop the country’s national digital currency. Surangel Whipps Jr., President of the Republic of Palau, commented,
“Partnering with Ripple to help create our national digital currency is part of our commitment to leading financial innovation and technologies that will provide greater financial access to the citizens of Palau.”
Interesting, Palau and Ripple Partnerships The dates date to November 2021, when the two sides announced teaming up to focus on developing strategies for cross-border payments and a USD-backed digital currency for the island nation.
Ripple’s involvement in the digital Hong Kong dollar
In a parallel announcement, Ripple said it will demonstrate the use case of its CBDC platform through the inaugural e-HKD pilot program led by the Hong Kong Monetary Authority (HKMA). It is also working with Taiwan’s Fubon Bank to build a product for real estate asset tokenization and equity distribution under the e-HKD pilot.
The company has joined hands with Taiwan’s Fubon Bank to develop a product under a pilot program, focusing on real estate asset tokenization and equity release, leveraging e-HKD.
XRP price is in an uptrend and has maintained its gains over the past 24-hours in a mostly flat market.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
Stepping up its CBDC game, Ripple announced the launch of a new platform for central banks, governments and financial institutions to issue their own central bank digital currency.
Dubbed the ‘Ripple CBDC Platform’, the offering will leverage the same blockchain technology that is used on the XRP Ledger (XRPL). The platform has been developed to address multiple use cases, such as the issuance of wholesale and retail CBDCs on a private ledger or a stablecoin.
Ripple CBDC Platform
According to the San Francisco-based blockchain company, the aim is to “holistically manage and optimize the entire lifecycle of fiat-based central bank digital currency, transactions and distribution.”
Following the development, Ripple’s VP of Central Bank Engagements and CBDCs James Wallis Said,
“As a trusted partner of many central banks, we believe this platform will help solve problems for many central banks and governments who are drawing up plans for CBDC implementation and developing technology strategies. “
The executive added that the platform’s innovative capabilities are expected to help facilitate speedy settlement of both domestic and cross-border payments, reduce risk vectors, and enhance the user experience of sending and receiving digital currency on both sides of a transaction. Is.
As part of its global push for its CBDC platform, Ripple has engaged the Republic of Palau to develop the country’s national digital currency. Surangel Whipps Jr., President of the Republic of Palau, commented,
“Partnering with Ripple to help create our national digital currency is part of our commitment to leading financial innovation and technologies that will provide greater financial access to the citizens of Palau.”
Interesting, Palau and Ripple Partnerships The dates date to November 2021, when the two sides announced teaming up to focus on developing strategies for cross-border payments and a USD-backed digital currency for the island nation.
Ripple’s involvement in the digital Hong Kong dollar
In a parallel announcement, Ripple said it will demonstrate the use case of its CBDC platform through the inaugural e-HKD pilot program led by the Hong Kong Monetary Authority (HKMA). It is also working with Taiwan’s Fubon Bank to build a product for real estate asset tokenization and equity distribution under the e-HKD pilot.
The company has joined hands with Taiwan’s Fubon Bank to develop a product under a pilot program, focusing on real estate asset tokenization and equity release, leveraging e-HKD.
XRP price is in an uptrend and has maintained its gains over the past 24-hours in a mostly flat market.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
