Blog

Ripple adviser teases ’more CBDC announcements in the next few weeks’

Ripple adviser teases ’more CBDC announcements in the next few weeks’

Ripple may soon unveil positive developments in its central bank digital currency (CBDC) projects, following hints from Ripple CBDC adviser Antony Welfare of more announcements to come.

Crypto influencer Sentosumosaba shared on Twitter on Tuesday that Ripple was in the midst of several CBDC pilot programs, including one in Bhutan and the other in Palau.

Ripple’s senior adviser Welfare, who handles CBDC Europe and global partnerships, responded on the same thread, teasing there could be “more CBDC announcements” in the “next few weeks.”

The company has become increasingly active in the development of central bank digital currencies since piloting a private version of the XRP Ledger in March 2021, providing a platform for central banks to securely issue CBDCs.

Just last week, Ripple was identified as one of the initial participants of a “Technical Sandbox Program” launched by United States-based think tank Digital Dollar Project, aimed at exploring the potential technical and business ramifications of a CBDC in the United States.

Ripple also joined the European think tank Digital Euro Association as a supporting partner in February to jointly drive the development and growth of CBDCs and the Digital Euro.

In September 2021, Ripple Labs announced it was partnering with the Royal Monetary Authority of Bhutan to pilot a CBDC in the south-central Asia kingdom to issue and manage a digital ngultrum aimed at improving cross-border payments.

Two months later, the blockchain company formed a partnership with the Republic of Palau to help the Pacific island develop its own climate-friendly digital currency, though it said it would act more like a USD-backed stablecoin than as a CBDC.

In June, the blockchain company also launched its first online CBDC hackathon called “Ripple CBDC Innovate.”

The competition attracted 483 participants to build CBDC-focused applications that either improve interoperability of CBDCs and digital assets, make it easier for retail use and interaction, or bring banking to underserved populations.

According to the CBDC Innovate website, the first stage finalists are set to be announced on Sept. 8, who will then move to the second phase of the competition.

 

CREDIT: https://cointelegraph.com/news/ripple-advisor-teases-more-cbdc-announcements-in-the-next-few-weeks

Archives
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • June 2022
  • January 2022
  • May 2021
  • February 2021
  • December 2020
  • September 2020
  • August 2020
  • July 2020
  • May 2020
  • April 2020
  • March 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • March 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • July 2018
  • June 2018
  • May 2018
  • March 2018
  • February 2018
  • November 2017
  • September 2017
  • August 2017
  • May 2017
  • March 2017
  • November 219
  • © Antony Welfare 2022