Fintech conglomerate, he said, will define the future of GBP-based CBDCs
- Ripple Inc. supports the transition to stablecoins
- Make stablecoins climate-neutral
With the new partnership, Ripple, a Dekacorn for digital payments, underscores its bet on the stablecoin segment. Its officers will hasten the advance of the CBDC, which is pegged to the British pound.
Ripple Inc. supports the transition to stablecoins
According to Ripple’s official statement posted on its official website, it is joining as a foundation member of the UK-based non-profit Digital Pound Foundation.
Ripple Joins the Digital Pound Foundation: Shaping a Path to a CBDC Future
OCTOBER 14, 2021 #XRP #Ripple https://t.co/GWn41xIrVc
– 𝗕𝗮𝗻𝗸XRP (@BankXRP) October 14, 2021
Susan Friedman, Head of Policy at Ripple, will represent the company at the Digital Pound Foundation. She emphasized the importance of this partnership for the development of the global financial system:
We are excited to support the design and implementation of a digital pound in partnership with the Digital Pound Foundation. The Foundation will help achieve the UK’s goal of building a more inclusive and sustainable financial system.
Ripple adds that experimentation with GBP-based CBDCs will help the UK secure its place in the global financial landscape of the Web3 era.
As previously reported by U.Today, Ripple’s rival Stellar will use the second largest stablecoin, USD Coin (USDC), in its collaboration with Moneygram.
Make stablecoins climate-neutral
The long-term partnership with the Digital Pound Foundation is intended to reaffirm Ripple’s focus on the stablecoin sphere. It recently partnered with Bhutan’s central bank, the Royal Monetary Authority (RMA).
Ripple will provide technical, advisory, and advisory support for Bhutan’s CBDC workload.
With Bhutan being the world’s first carbon-neutral nation-state, Ripple’s strategy of building an environmentally friendly stablecoin fits perfectly with its vision and mission.