What is Ripple doing with Bhutan's central bank on a digital currency pilot?
Company-reported Published 1 min read
Short answer
On September 22, 2021, Ripple announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority, to pilot a central bank digital currency using Ripple’s CBDC Private Ledger.
The full answer
What did Ripple state?
On September 22, 2021, Ripple stated the following. On September 22, 2021, Ripple announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority, to pilot a central bank digital currency using Ripple’s CBDC Private Ledger. [1]
The source’s own words: “Ripple, the leading provider of enterprise blockchain and crypto solutions for cross-border payments, today announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority (RMA), to pilot a central bank digital currency (CBDC) using Ripple’s CBDC Private Ledger.” [1]
Where does this fit on the site?
For the wider picture, see Do any US states, foreign governments or central banks hold or use XRP or the XRP Ledger? and How is XRP classified and regulated outside the US (EU, UK, Japan, Singapore, Canada)?. Two related questions are Do banks actually use XRP? and What digital-asset features does Ripple Treasury have?
What we know
- On September 22, 2021, Ripple announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority, to pilot a central bank digital currency using Ripple’s CBDC Private Ledger (Ripple, September 22, 2021).
In plain English
On September 22, 2021, Ripple announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority, to pilot a central bank digital currency using Ripple’s CBDC Private Ledger.
Sources
- Ripple Press Releases (ripple.com) — Ripple, 2021-09-22 Primary
Update log
- — Published.
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