Ripple presents a blockchain-based CBDC platform, while the XRP price continues to increase
Ripple presents a blockchain-based CBDC platform, while the XRP price continues to increase
Expansion of his CBDC game, Ripple announced the introduction of a new platform for central banks, governments and financial institutions to issue their own digital central bank currency.
called 'Ripple "CBDC Platform", the offer will use the same blockchain technology that is also used for the XRP Ledger (XRPL). The platform was developed to cover several applications, such as: B. CBDCs in wholesale and retail in a private main register or the output of a stablecooin.
ripple CBDC platform
According to the blockchain company based in San Francisco, the goal is to "holistically manage and adapt and adapt the entire life cycle of the digital currency, transaction and distribution of the fiat-based central bank".
Following the development, James Wallis, Rippleder Vice President for Central Banking Conncation and CBDCs said:
"As a trustworthy partner of several central banks, we believe that this platform will help solve the problems of many central banks and governments, design the plans and develop a technology strategy for CBDC implementation."
The managing director added that the innovative functions of the platform are expected to make the immediate processing easier for both domestic and cross -cross -border payments, to reduce riskovectors and to improve the user experience when sending and receiving digital currencies on both sides.
As part of its global advance for his CBDC platform, Ripple has commissioned the Republic of Palau to develop the country's national digital currency. Surangel Whipps Jr., President of the Republic of Palau, commented:
"Partnership with Ripple The support in creating our national digital currency is part of our commitment to be a leader in financial innovations and technologies, which will give Palau citizens better access to financial resources."
Interestingly, Palaus and Rippledie are back to November 2021 when the two parties announced a cooperation in order to focus on the development of strategies for cross-border payments and a USD-based digital currency for the island state.rippling division on the digital Hong Kong dollar
In a parallel announcement Ripple said, it would demonstrate the application for its CBDC platform by the first e-HKD pilot program under the direction of the Hong Kong Monetary Authority (HKMA). It also works with the Taiwanese Fubon Bank to develop a product for the tokenization of real estate assets and the distribution of equity as part of the e-HKD pilot project.
The company has teamed up with the Taiwanese Fubon Bank to develop a product as part of the pilot program, the focus of which is on the tokenization of real estate assets and the release of equity using the E-HKD.
The price of XRP continues to tend to be up and has retained its profits in an otherwise restless market that has remained mostly unchanged in the past 24 hours.
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