Colombian central bank collaborates with Ripple on a Blockchain test

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The Colombian central bank is evaluating how Ripple’s new end-to-end CBDC platform could enhance the nation’s high-value payment system.

In collaboration with the Ministry of Information and Communications Technologies, Banco de la Republica will test the Ripple platform for the remainder of the year. The Ripple platform is powered by the XRP Ledger, an open-source, energy-efficient Blockchain that was created to address a variety of use cases, such as issuing a stablecoin or handling wholesale and retail CBDCs on a private ledger.

“By harnessing the CBDC Platform, based upon the XRPL, this project will pave the way for transformative advancements in the utilization of Blockchain technology within the public sector,” says James Wallis, VP of central bank engagements and CBDCs at Ripple.

Read More: Colombian central bank partners Ripple for blockchain pilot

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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