Ripple launches CBDC issuance platform to support financial institutions in issuing digital currencies or stablecoins

2023-05-18 18:33:57

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ChainCatcher news, Ripple announced the launch of the Ripple CBDC platform, allowing central banks, governments, and financial institutions to issue their own digital currencies, as well as manage, trade, and exchange CBDCs and stablecoins.

The Ripple CBDC platform is designed to address various use cases, including wholesale and retail CBDCs on private ledgers or the issuance of stablecoins, providing clients with ledger technology that enables issuers to manage the entire lifecycle of their fiat-based digital currencies, allowing financial institutions holding large amounts of digital currency to manage and participate in inter-institutional settlement and distribution functions.

Ripple stated that central banks, monetary authorities, or commercial banks can manage the entire lifecycle of their fiat-based digital currencies, from minting and distribution to redemption and destruction, all utilizing the built-in multi-signature feature of the XRP Ledger.

The XRP Ledger (XRPL) is an open-source decentralized Layer 1 blockchain. (Source link)

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Ripple CBDC stablecoin

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