Ripple is launching an end-to-end CBDC platform for central banks, governments, and financial institutions to issue their own digital currencies and stablecoins shortly after acquiring cryptocurrency custody provider Metaco.
The Ripple platform is comprised of ledger technology, issuer capabilities for minting, distribution, redemption, and destruction of tokens, inter-institutional settlement and distribution functions, and end-user wallets. It was developed to address a variety of use cases, including wholesale and retail CBDCs on a private ledger or issuing a stablecoin.
With the Republic of Palau, the Central Bank of Montenegro, and the Royal Monetary Authority of Bhutan, Ripple is currently working on stablecoin and CBDC pilot projects.
Read More: Ripple rolls out CBDC platform