Ripple Launches Platform for Central Bank Digital Currency | coindesk JAPAN | Coindesk Japan

Ripple is launching a Central Bank Digital Currency (CBDC) platform that allows central banks, governments and financial institutions to issue their own digital currencies.

Ripple’s platform allows government agencies to manage and customize the entire CBDC lifecycle, including issuance, distribution, redemption and token burning. Financial institutions will also be able to manage and operate business-to-business settlement and distribution functions using CBDC.

Central banks can issue both wholesale and retail CBDCs and support offline trading.

The platform builds on the company’s Private Ledger, launched in 2021 for CBDC issuance, and is based on the XRP Ledger.

Ripple will present a use case for the platform in the “e-HKD pilot” being run by the Hong Kong Monetary Authority (the equivalent of Hong Kong’s central bank). It is also building products for real estate tokenization and equity distribution.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Ripple Labs
｜Original: Ripple Starts Platform for Central Banks to Issue Their CBDCs