Fintech startup Ripple reported on the launch of the Ripple CBDC Platform, a comprehensive solution for central banks, governments and financial institutions to issue national digital currency and stablecoins.
Use cases include: wholesale and retail CBDC based on a private blockchain or issuance of stablecoins.
The solution is based on the XRP Ledger (XRPL).
The platform will allow issuers to manage and customize the entire life cycle of assets using multi-signatures – from issuance and distribution to redemption and burning.
Ripple CBDC Platform operators will be able to manage settlements among institutions and participate in the distribution of digital currencies or stablecoins.
Users of assets issued using the platform are entitled to expect “secure storage of tokens, payment and receipt of payments in the same way as it is implemented in various applications.”
The press release also mentions the possibility of making offline transactions without the use of smartphones.
Recall that in January 2023, the authorities of Montenegro and Ripple agreed on a partnership to launch a pilot project of the national digital currency.
Recently, a fintech startup announced the takeover of Metaco custodian. Thanks to the purchase, Ripple will be able to offer customers tools for storing, issuing and settling with tokenized assets.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Fintech startup Ripple reported on the launch of the Ripple CBDC Platform, a comprehensive solution for central banks, governments and financial institutions to issue national digital currency and stablecoins.
Use cases include: wholesale and retail CBDC based on a private blockchain or issuance of stablecoins.
The solution is based on the XRP Ledger (XRPL).
The platform will allow issuers to manage and customize the entire life cycle of assets using multi-signatures – from issuance and distribution to redemption and burning.
Ripple CBDC Platform operators will be able to manage settlements among institutions and participate in the distribution of digital currencies or stablecoins.
Users of assets issued using the platform are entitled to expect “secure storage of tokens, payment and receipt of payments in the same way as it is implemented in various applications.”
The press release also mentions the possibility of making offline transactions without the use of smartphones.
Recall that in January 2023, the authorities of Montenegro and Ripple agreed on a partnership to launch a pilot project of the national digital currency.
Recently, a fintech startup announced the takeover of Metaco custodian. Thanks to the purchase, Ripple will be able to offer customers tools for storing, issuing and settling with tokenized assets.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!