Continuing its legal struggle with the SEC, Ripple is accelerating its efforts to consolidate its place in the crypto money industry.
Making a new move every day, Ripple has now announced that it has launched a Ripple CBDC Platform for central banks to issue and develop their own CBDCs.
It was stated that this CBDC platform will allow central banks to issue, manage, transact and use their CBDCs seamlessly.
“More than 90% of countries are discovering, developing and implementing CBDCs as a way to reduce the cost and risk of domestic and cross-border payment processes.
Seeing this, Ripple is announcing the Ripple CBDC Platform, an end-to-end solution for central banks, governments, and financial institutions to issue their own CBDCs.
Leveraging the power of the same blockchain technology used in the XRP Ledger (XRPL), the advanced Ripple CBDC Platform enables central banks and governments to bring the next level of digitization to their financial services while providing access to millions of unbanked people worldwide.”
Ripple also stated in its statement that central banks can issue both wholesale and retail CBDCs that can also conduct offline transactions.
How this platform will be used will be demonstrated under the e-HKD pilot program, a program run by the Hong Kong Monetary Authority.
“As a trusted partner of several central banks, we believe this platform will help solve problems for many central banks and governments as they devise plans for CBDC Implementations and develop a technology strategy,” said James Wallis, Ripple's Vice President of Central Banks and CBDCs. .
Meanwhile, we see that Ripple (XRP) is positively diverging from Bitcoin and is on the rise. Starting the day with a rise, XRP has increased by about 5%. XRP is at $ 0.4674 at the time of writing.
*Not investment advice.
