Ripple has launched the Ripple CBDC Platform to cater to the ongoing exploration, development, and implementation of Central Bank Digital Currencies (CBDCs) by over 90% of countries worldwide, aimed at increasing financial inclusion and reducing the cost and risk of domestic and cross-border payment processes. This enhanced solution offers a seamless end-to-end experience for central banks, governments, and financial institutions to issue their own fiat-based central bank digital currency, manage its entire lifecycle and customise it as per their needs, leveraging the XRP Ledger’s robust blockchain technology.
The platform provides an opportunity to millions of unbanked people worldwide to access better financial services. The President of the Republic of Palau, Surangel Whipps Jr, mentioned, “Partnering with Ripple to help create our national digital currency is part of our commitment to lead in financial innovation and technologies, which will provide the citizens of Palau with greater financial access.”