Ripple says it is collaborating with central banks on CBDC development

Ripple is negotiating with central banks to use the XRP Ledger as the basis for national digital currencies (CBDCs). Ashish Birla, general manager of RippleNet, said.

“CBDC will be a serious boost for the adoption of Ripple’s technology. We are in the process of discussing strategy with various central banks around the world,” the top executive explained.

During a partner webinar with YouTuber Alex Cobb, Birla said that the COVID-19 pandemic has contributed to the active expansion of RippleNet participants. According to him, the network is moving beyond payments and transitions to credit products. The general manager also said that efforts are being made to resolve disagreements with the U.S. Securities and Exchange Commission (SEC).

Ripple has responded to the SEC’s lawsuit, offering to explain the discrepancies between Bitcoin and Ethereum and the definition of a security.

In December, the company’s CEO Brad Garlinghouse noted that the startup was ready to work with the regulator’s new leadership to resolve legal uncertainty.

In November, the head of Ripple expressed confidence that even XRP being classified as a security will not undermine the company’s business.

In January, Garlinghouse called 2020 a momentous year for Ripple.

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