Participation in pilot projects for national digital currencies has enabled Ripple to better understand the needs of central banks and the role of commercial institutions, according to former company advisor on CBDC, Antony Welfare.
The entire CBDC work was very important to learn what the Central banks wanted and how the commercial banks are key .. hence Stablecoins as the main focus … my famous presentation quote “Christine Lagarde doesn’t want a call from you to reset your wallet password” Tongue in…
— Antony Welfare (@AntonyWelfare) September 27, 2025
Since 2021, Ripple has participated in several joint experiments with various countries in the field of CBDC. The firm’s partners included Palau, Montenegro, Bhutan, Georgia, and the United Kingdom.
According to Welfare, these practical studies have significantly influenced the development of the XRP Ledger (XRPL) network, both from Ripple and its ecosystem partners. The experiments also drew the company’s attention to stablecoins and helped prepare for their current exponential growth phase.
In 2023, the firm introduced a platform based on XRPL designed for the issuance of central bank digital currencies and “stablecoins.”
“Now we just need to focus on interoperability — CBDC, stablecoins, tokenized deposits, etc. — they all need to work together to make it easy for people and businesses to use them,” Welfare emphasized.
In August, Ripple introduced its own dollar-pegged token, RLUSD. The asset was issued on XRPL and the Ethereum mainnet. At the time of writing, the coin’s market capitalization approached $790 million, representing a fraction of the stablecoin market, which exceeds $300 billion.
Earlier, Ripple partnered with DBS and Franklin Templeton to launch trading and lending tokenized products based on XRPL and RLUSD.