Ripple (XRP) Confirms CBDC Announcements To Come Soon

By Kevin • September 6, 2022 10:05 pm • Comments

A senior Ripple advisor has just revealed that the company will be sharing some CBDC announcements soon in the coming weeks.

This has been something that many XRP investors have been expecting given Ripple’s expertise in the central bank digital currency space and its history of being a CBDC advisor for many government entities.

Antony Welfare, the Ripple advisor, mentioned that the company already has several CBDC pilots that are in progress right now for some very major entities.

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For example, the Royal Monetary Authority of Bhutan and the Republic of Palau are among the participants of these CBDC pilots which is very significant.

Watcher.guru reports:

Welfare responded to a tweet by valued XRP community member @sentosumosaba. The tweet cites an interview with Welfare from June 17, 2022, which had some pretty significant quotes such as, “Ripple has several pilots in the progress for CBDCs, including the Royal Monetary Authority (RMA) of Bhutan and the Republic of Palau.”

“For Ripple, Crypto is in our DNA,” another quote from the interview says.

“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 tokenised assets).”

He thanked Sento for the tweet mention, offering an extra bit of information that is promising for Ripple XRP users.

So far, there are very few blockchain competitors that are as well established as Ripple when it comes to being an authority on central bank digital currencies.

The blockchain offers a complete CBDC platform solution that can be utilized which makes it currently the top choice among governments and financial institutions.

The exact timeframe of the current CBDC pilots is still largely unknown, but more information may be revealed in these upcoming announcements which are expected in the next few weeks.

So far, the price has not reacted yet, but may decide to do so once more concrete details come out.

Watcher.guru concludes:

Of course, the “next few weeks” is a very broad timeframe.

However, it is still great news, especially among all of the CBDC speculation already brewing in the Ripple XRP community.

XRP is currently sitting at $0.3253, according to CoinMarketCap.

XRP is looking at a potential bull run over the next month entering Q4. We will update you once these announcements are made.

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