Ripple working with Central Banks, boost XRP adoption
Cryptocurrency analyst Amelie highlighted remarks made by Brad Garlinghouse, the CEO of Ripple, about the company’s collaborations with central banks. “Ripple has partnered with several central banks around the world, some we’ve announced, some we haven’t yet announced!” she wrote in her post, quoting Garlinghouse. “Now that the SEC case is over, imagine all the partnerships that will be announced soon…XRP.”.
The post referenced a video clip where Garlinghouse discussed Ripple’s role in working with central banks and using the XRP Ledger for digital asset issuance.
His remarks focused on the challenges of cross-border payments, the distinction between central bank digital currencies (CBDCs) and stablecoins, and the ongoing experimentation by various governments with blockchain technology. Garlinghouse described Ripple’s primary goal in the video as addressing cross-border payment inefficiencies. He noted that “central bank digital currencies are domestic by nature” and are generally not designed to solve international payment challenges.
He acknowledged the broader trend of governments experimenting with digital assets, including CBDCs and stablecoins, and how Ripple has positioned itself within this space.
Ripple will be able to reveal these partnerships following its legal battle with the Securities and Exchange Commission (SEC).
The lawsuit focused on the SEC’s claims about XRP; however, recent events have given Ripple and its business operations more regulatory clarity.
Ripple has previously announced collaborations on CBDC projects with organizations like the Republic of Palau and Bhutan, and there are still rumors of additional, possibly undisclosed agreements.
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