Ripple, a crypto exchange with XRP as its native digital token, states that an additional CBDC announcement will be made by it in the next weeks, as per Anotony Welfare (Ripple’s CBDC advisor). Welfare answered a Twitter post shared on the behalf of @sentosumosaba (a valued participant of the XRP community). The respective post refers to an interview of Welfare.
Ripple Advisor Validates CBDC Announcements to Be Made in Future
In that interview, which was conducted on 17th June this year, it was mentioned by Welfare that there are some CBDC pilots started by Ripple in progress. As per him, they are being carried out in collaboration with the Republic of Palau and Bhutan’s Royal Monetary Authority (RMA). According to Ripple, crypto is the most significant and inevitable thing. The executive added that the business of the platform is keen on providing convenience to the developers in the construction of a crypto world to deal with the utilization of the XRP Ledger.
In addition to this, they will also be assisted in collaborating with the rest of the cryptocurrency participants in the use cases such as CBDCs and NFTs. The Ripple advisor appreciated the tweet mentioned by Sento, giving additional information to make the XRP customers more optimistic. Though the period of a few next weeks counts as a lengthy period, the news about the CBDC announcements is remarkable, particularly at the point when the speculation related to CBDC is in advance prevailing in the community of Ripple.
XRP Likely to See a Bull Run in October 2022
At the moment, XRP is placed at $0.3253, as described by CoinMarketCap. Ripple’s local token is pursuing a likely bull run during the coming month of November while entering the 4th quarter of this year. Recently, the Digital Dollar Project (which is based in the United States) has mentioned that it will operate in collaboration with Ripple as well as several among the rest of companies dealing with digital assets to introduce a technical sandbox project.
This initiative is focused on having a detailed study of a U.S.-based central bank digital currency (CBDC). On Wednesday, the non-profit organization declared that the respective project is scheduled to take place at the start of October this year while initially paying attention to the cross-border payments. There will be 2 stages of this program in which the 1st will be devoted to education while the 2nd will be related to a pilot phase.
The findings of both phases will be shared with the public and private sector-based stakeholders to make them aware of how with the development of the technical solutions business value can be unlocked in a revolutionized way. The Digital Dollar Foundation (known as public education as well as advocacy team) and Accenture (an infotech consultancy firm) are the platforms responsible for establishing the Digital Dollar Project.
In April, for testing CBDC infrastructure, the Depository Trust and Clearing Corporation (categorized among the biggest providers of financial services within the United States) took the Digital Dollar Project as its partner and released “Project Lithium.”