Ripple To Serve CBDCs For 20 Central Banks Worldwide In Trillion-$ Market – Can It Drive XRP Price?

  • Ripple’s senior vice president of customer success reveals that Ripple is discussing CBDCs with more than 20 central banks across the globe.
  • Ripple is committed to making CBDCs available to more central banks and believes regulation is moving at a faster pace in places outside the US

Ripple is making headlines again for its connection to central bank digital currencies. Recently, new information reaching the market has highlighted the steps that Ripple is taking to expand its reach as a platform that has taken up the innovative challenge to help promote accessibility for CBDCs as a platform for innovation.

In a recent interview, a senior figure at Ripple revealed that not only was Ripple affiliated with a significant number of central banks, it was also noted that Ripple’s mission to contribute to the growth and adoption of CBDCs is still in motion.

Brooks Entwistle, senior vice president of customer success and managing director of APAC and MENA at Ripple, made this known to a media outlet in a recent interview.

Brooks Entwistle explained that Central Bank Digital Currencies (CBDCs) are a key focus of Ripple, and that the company is putting all the effort needed to be a key solution provider for central banks looking to create their own CBDCs’ is.

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There are more than 200 countries out there. There are many central banks and they have different needs and there are different parts of this journey. Our view is, where can we come into that conversation, be a solution provider and help them along the way?

He claimed that in the interview.

Ripple is in talks with over 20 central banks as they discuss issues that may arise when they want to adopt CBDCs

Entwistle confirmed that while many countries, such as China, which is behind the digital yuan, are advanced, many others will greatly benefit from Ripple’s services as they have few resources to execute plans for CBDCs.
He goes on to explain that Ripple is now in communication with over 20 central banks regarding CBDCs.

So we are in dialogue with not ten, not twenty, but a lot more central banks around the world about these discussions. We’ve announced projects with Bhutan, with Palau and others coming up, and I think that shows you that this is really resonating now. One size does not fit all, but we need to be in this as this evolves.

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The U.S. is still behind on legislation, he noted. In countries such as Tokyo, Singapore, Switzerland and the UK, they open their arms to relevant discussions and even go so far as to hold roundtable discussions.

The projects carried out in Bhutan and Palau highlight the success that Ripple has achieved outside of the United States, the executive noted. He says the report focuses on international markets and has even hired 300 staff in those regions.

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