Ripple To Announce More CDBC in The Coming Weeks!

The post Ripple To Announce More CDBC in The Coming Weeks! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Distributed ledger firms across the world are expanding as Central Bank Digital Currencies (CBDC) are all set to emerge. Ripple’s CBDC Private Ledger empowers the XRP Ledger (XRPL), designed for payments and issuing currencies. Ripple CBDC advisor Antony Welfare hinted that Ripple might soon announce more positive developments in its central bank digital currency (CBDC) projects in the coming weeks.

Ripple Is Diving Deep Into CBDC

On 6 September, crypto influencer and valued XRP community member Sentosumosaba posted on Twitter that Ripple has several ongoing CBDC pilot programs, including the Royal Monetary Authority (RMA) in Bhutan and Palau Antony, to improve cross-border payments. Welfare nodded and responded to the tweet thread by hinting that more CBDC announcements are scheduled for the upcoming weeks.

"Ripple has several pilots in the progress for CBDCs, including the Royal Monetary Authority (RMA) of Bhutan and the Republic of Palau." – @AntonyWelfare

Several: More than two and fewer than many. In progress.https://t.co/VqLGkhgOFh pic.twitter.com/DbdiXVwtOl

— Crypto Eri 207k Followers (beware of imposters) (@sentosumosaba) September 6, 2022

These tweets came after an interview with Welfare on 17 June.

The interview says, “For Ripple, Crypto is in our DNA. Our RippleX business unit is focused on making it easy for developers to build on and with the XRP Ledger, as well as partnering with others in the crypto space on use cases like NFTs and CBDCs (aka tokenized assets).” 

The next ‘few weeks are a long timeframe; however, it is expected that CBDC announcements from Ripple will help fulfill its goals, and it is already building excitement in the Ripple XRP community. 

In June, Ripple organized its first online CBDC hackathon called “Ripple CBDC Innovate.” The competition gathered 483 participants to develop CBDC-focused applications that either improve the connection between CBDCs and digital assets or build banking for underserved populations.

According to CoinMarketCap, XRP is currently trading near $0.32. It can see a positive price action soon following the upcoming announcements from Ripple.