Ripple confirms collaboration with 10 governments on CBDC initiatives

Ripple is working with ten governments to promote central bank digital currencies (CBDCs), aiming to increase the utility of the XRP Ledger and develop stablecoins to promote global financial inclusion.
Ripple CEO Brad Garlinghouse confirmed that the company is actively working with ten governments around the world to promote central bank digital currencies (CBDCs).
The news was highlighted by the X account of Good Morning Crypto. Notably, Garlinghouse considers central bank digital currencies to be government-issued stablecoins. Ripple hopes to increase the utility of the XRP Ledger (XRPL) so that it can move from speculation to actual application by 2024.
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Reactions and community feedback
The announcement sparked mixed reactions within the crypto community. Some users speculated that the push for CBDCs could be the reason for the swift launch of RLUSD. One user expressed concern about the impact of CBDCs on individual freedoms, questioning enthusiasm for a possible loss of freedom.
Other community members focus on the practical aspects, emphasizing the value of networks that support free and stable transfer of value without necessarily requiring the internet.
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Ripple’s Global CBDC Collaboration
Ripple has been working with governments around the world. The company is working with the Royal Monetary Authority of Bhutan to enhance digital and cross-border payments, leveraging the XRP Ledger’s infrastructure. Additionally, Ripple is working with the Republic of Palau to develop a climate-friendly digital currency that aligns with Palau’s environmental values.
Similarly, Ripple announced a partnership with the Central Bank of Montenegro to explore the potential of blockchain technology in launching a CBDC, aimed at improving financial inclusion and modernizing monetary policy. Additionally, Ripple’s partnership with the National Bank of Georgia aims to pilot the digital lari to boost Georgia’s public and financial sectors.
Additionally, Ripple has partnered with the Bank of the Republic of Colombia to use blockchain technology to improve the country’s high-value payment systems, part of a broader initiative by Colombia’s Ministry of Information and Communications Technology to educate public institutions on the benefits of blockchain.
Ripple’s partnership with the Digital Dollar Project (DDP) further highlights its important role. The DDP is an independent, nonprofit initiative working closely with U.S. policymakers to explore the design and impact of a potential digital dollar.
Ripple Launches Real Dollar (RLUSD)
Ripple will also launch its stablecoin Real USD (RLUSD). Unveiled at the XRP Ledger Apex Summit in Amsterdam, RLUSD aims to be pegged directly to the U.S. dollar, facilitating stable and efficient transactions. The stablecoin will be available on both the XRP Ledger and Ethereum platforms.
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