Ripple (XRP) participates in the Digital Euro, the CBDC of the ECB


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Investing.com – The ECB announced yesterday, via a tweet from its president Christine Lagarde, that it would now work on setting up a digital version of the euro.

The European Central Bank benefits from the support of the company , issuer of the which has acquired extensive knowledge and developed technological solutions in the field of central bank digital currencies (CBDC).

Last year, the company had already started a collaboration with the Central Bank of Bhutan to launch a CBDC pilot project.

The new partnership with the Digital Euro Association (DEA) should bring some prestige to Ripple, as the euro is one of the most demanded currencies in the world.

Ripple’s VP of Central Bank Commitments, James Wallis, said:

“We are pleased to join the Digital Euro Association as a supporting partner to expand our work in the area of ​​CBDCs. The DEA works across Europe and in global markets to drive the development and growth of CBDCs, and especially the digital euro.Ripple has invested significantly in the world of CBDCs and has a team of around 40 people worldwide to help develop and deliver solutions for CBDCs and stablecoins. We look forward to working with the DEA to advance our work on CBDCs over the coming months.”

The date of a first pilot project with a digital form of the euro should only be a matter of time. Different press reports indicate that a feasibility study will be available from the beginning of next year and that the first draft laws will then be formulated.

By Marco Oehrl

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