XRP May Soon Power France’s Currency

October 19, 2023 2:15 pm Comments

Rumors are once again circulating that Banque De France, France’s central bank, may adopt XRP for its Digital Euro initiative.

While these are currently rumors and no official announcement has yet to be made, the Banque De France’s First Deputy recently had this to say regarding CBDCs:

“The catalyst for improving cross-border payments by enabling the build-up of a new international monetary system.” The official emphasizes the necessity of considering cross-border issue around CBDCs from the outset and not as an afterthought,” as per a recent Coin Telegraph piece.

France has been experimenting with a CBDC since 2020 and the French monetary officials have praised both XRP and the XRPL as an asset bridge.

The tokenization of real-world assets on the blockchain and the XRPL, in particular, has been a focal concern of both the nascent blockchain industry and institutional investors, who see it as a multi-trillion dollar market.

Here’s what everyone is saying about the potential adoption of XRP by the Banque De France:

Bitcoinist recently reported:

The Central Bank highlighted the token’s potential in a research paper “Implementation of real-time settlement for banks using decentralised ledger technology: policy and legal implications” in 2016. The paper noted the difficulties experienced in facilitating cross-border payment transactions using the traditional correspondent banking network and how XRP could solve this problem.

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