Will Central Banks Utilise XRP Via Ripple’s CBDC Platform?

Ripple News: Ripple Lab in order to expand its trajectory launched Central Bank Digital Currency (CBDC) platforms for the development of stablecoin and CBDCs. The blockchain firm mentioned that the central banks and governments will be utilizing the same technology used on the XRP Ledger (XRPL). However, this development has sparked a query of Central banks interacting with the XRP while it is facing regulatory clearance in the U.S.

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Ripple CTO Jumps To The Matter

David Schwartz, Ripple CTO stated that their platform reaffirms the significance of the XRPL as the same core ledger technology has been used to build it. He mentioned that it holds the ability to interact with XRPL and use its native crypto, XRP. However, the XRP can be used as a bridge currency for cross borders payments.

Countering the rumors, he added that it depends on the people what will they choose to do. As per Ripple CTO’s recommendation, he doesn’t go to build products that require to use XRP as it may become the top reason to not utilize the product. Read More Ripple News Here…

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He added that by putting the largest set of users together, people who won’t use XRP are people who would suffer some harm. However, users who are benefiting from using it can easily do so.

With the launch of the CBDC platform, Ripple bagged the chance to showcase the real estate asset tokenization solution to the Hong Kong Monetary Authority (HKMA) as it launched the e-HKD Pilot Programme.