Ripple advisor hints at CBDC gospels

Ripple advisor hints at CBDC gospels

Ripple may soon announce positive developments regarding its central bank digital currency (CBDC) projects, according to CBDC advisor Antony Welfare.

Crypto influencer Sentosumosaba reported that Ripple is in the midst of several CBDC pilot projects, including Bhutan and Palau.

Welfare, Ripple’s senior adviser who manages CBDC Europe and Global Collaborations, replied to the same post, saying that more CBDC announcements could be made “in the next few weeks”.

The company has become increasingly active in CBDC development after launching a custom version of the XRP ledger in March 2021. This ledger gave central banks a platform where they could issue CBDCs with confidence.

Ripple was announced last week by the US think tank Digital Dollar Project as one of the first participants in the “Technical Framework Program” to learn about the possible technical and institutional implications of developing a CBDC in the country.

Ripple also joined the Digital Euro Union, which focuses on Digital Euro development, as a supporting partner in February.

Ripple Labs announced in September 2021 that it will be collaborating with Bhutan to help the Asian country use a CBDC that will improve international payments.

The company signed a cooperation with the Republic of Palau two months later. The Pacific island wants to develop its own climate-friendly digital currency.

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