Ripple “XRP can serve as a central bank digital currency (CBDC) bridge currency”
Ripple has expressed its position that the cryptocurrency’XRP’ can serve as a bridge currency that connects stablecoins (CBDC) issued by national banks.
According to YouTube on the 7th (local time), in a report on CBDC released by Ripple, “Ripple can support the role of a bank-issued stablecoin bridge currency.”
Through the report, Ripple predicted that “CBDC will play an important role in future payment methods. This year will be a key year to realize this.”
Ripple added, “In order to utilize CBDC, 80% of central banks around the world must interact with each other on important issues. To establish an open standard, fast transaction speed, and low transaction fees, central banks are a neutral bridge “We have no choice but to use currency,” he explained.
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The neutral bridge currency is a currency that acts as an intermediary for connecting CBDCs issued on different platforms in each country. It is explained that the inefficiency of transactions between heterogeneous platforms can be resolved through currencies that act as intermediaries.
“A neutral bridge currency can solve the liquidity problems each CBDC faces in cross-border transactions,” Ripple said. “XRP is more scalable than any other digital asset and is ideal for quickly and efficiently linking two different currencies. Tool”.
Meanwhile, in November, Ripple officially added Bank of America, the second largest bank in the US by asset, as a RippleNet top partner. Also, in the same month, a job posting for the director of the CBDC business division was held.
Through the establishment of partnerships with the financial sector and technology development for CBDC, Ripple is accelerating the expansion of its CBDC business.
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