Cryptos in the Balkans – After having discussed with the Banque de France for the launch of a digital euro, Ripple would have exchanged with the leaders of Montenegro for the development of a stablecoin.
A digital currency to be developed with Ripple
In a tweet on January 18, the Prime Minister of Montenegro, Dritan Abazović, announced that the country’s central bank was collaborating with Ripple, with a view to developing ” a digital currency or stablecoin for Montenegro “.
The Prime Minister reportedly met with the CEO of Ripple, Brad Garlinghouseand the company’s vice president, James Wallis, in Davos, Switzerland, during the This year’s World Economic Forum.
At this point, the outlines of this project stay blurred, particularly because of the country’s relations with the euro and the European Union (EU). Indeed, Montenegro does not have a national currency. The country has used the euro since 2002, without being a member of the EU.
Montenegro had applied for membership of the European Union in 2008. On February 6, 2018, the European Commission had indicated that this membership could become effective inhorizon 2025active ” the existence of a strong political will », the implementation of reforms, and the final settlement of Montenegro’s conflicts with its neighboring countries.
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Montenegro: a land of welcome for cryptocurrencies
While waiting for the possible tangible results that could emerge from this partnership, this announcement has above all a symbolic significance. It gives Montenegro the image of a crypto-friendly country. It is also in line with cryptocurrency initiativeswhich the country launched last year.
In April, the Montenegrin government organized a round table entitled ” FutureNow! in which the co-founder ofEthereum (ETH)Vitalik Buterin, and Vlad Zamfir, who is known for his research work on crypto-economics, proof-of-stake, and sharding in the ETH ecosystem.
During this meeting, the panelists mainly focused on how individuals can legally create a community or verify their identity using the blockchain.
And to spread this image of a country open to cryptocurrencies, the government even went so far as to give Montenegrin citizenship to Vitalik Buterin.
Digital currencies and stablecoins are making their way into Europe, and other jurisdictions. Companies like Ripple and Visa bet on these alternative means of paymentwhich have a card to play against their competitors.
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