France eyes Ripple's XRP Ledger as a possible platform for its CBDC

Wednesday 10 March 2021 09:49 CET | News

Banque de France, the central bank of France, has reportedly discussed XRP and Ripple for the launch of a central bank digital currency (CBDC), according to Finance Magnates.

Citing a report published by CPA Australia, Ripple and XRP gained the attention of many central banks around the world due to its efficient network. Ripple allows the creation of new currencies, and Ripple developers can decide the timing and quantity of supply in a similar way to current central bank operations.

The report stresses the efforts made by the Reserve Bank of Australia, ECB, PBOC, and the Federal Reserve in the issuance of a central bank digital currency.

Ripple is currently testing a private version of the XRP Ledger to facilitate global central banks in the issuance and management of CBDCs. To learn more about CBDCs, download our ebook Central Bank Digital Currencies for Dummies – A Quick Guide into CBDCs.

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Keywords: XRP, CBDC, digital currency, central bank
Categories: DeFi & Crypto & Web3
Countries: France
This article is part of category

DeFi & Crypto & Web3