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Get Ready for More CBDCs: Ripple Senior Advisor Says More Announcements Coming Soon


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Ripple, a renowned Silicon Valley-based company, is a global payment provider whose payment solutions are extensively used internationally.

While many companies, like SBI Holdings, have chosen Ripple as their cross-border settlements partner, several countries have chosen the fintech company for their Central Bank-backed Digital Currency (CBDC) ventures.

Anthony Welfare, a senior advisor at Ripple, recently disclosed that the blockchain startup is working on several CBDC pilot projects for countries, including Bhutan and the Republic of Palau.

In a recent interview, Welfare stated, "Ripple has many CBDC pilots in ongoing, including the Royal Monetary Authority (RMA) of Bhutan and the Republic of Palau."

The main goal of RippleX, he continued, is not just to enable developers to build on the XRP Ledger but also to collaborate with leading businesses and nations on various projects, including CBDC.

"Crypto is in our DNA at Ripple; our RippleX business unit is focused on making it easy for developers to build on and with the XRP Ledger, as well as collaborating with others in the crypto industry on use cases like CBDCs and NFTs (also known as tokenized assets)," Welfare said.

Other XRP holders were aware of the development because popular Ripple enthusiast Crypto ERI tweeted about it. Interestingly, the tweet also caught Welfare's notice, revealing that Ripple will be making additional CBDC announcements in the upcoming weeks.


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