Ripple launches platform for issuing CBDCs and stablecoins

The fintech startup Ripple announced the launch of Ripple CBDC Platform — a comprehensive solution for central banks, governments and financial institutions for issuing a national digital currency and “stablecoins”.

Use cases include wholesale and retail CBDC on a private blockchain, or the issuance of stablecoins.

The solution is built on the XRP Ledger (XRPL).

For issuers, the platform will enable the use of multisignatures to manage and configure the full asset lifecycle—from issuance and distribution to redemption and burning.

Operators of the Ripple CBDC Platform will be able to manage settlements among institutions and participate in the distribution of digital currencies or stablecoins.

Users of assets issued through the platform can expect secure custody of tokens and the ability to make and receive payments in the same manner as in other applications.

The press release also mentions the possibility of standalone transactions without using smartphones.

Earlier in January 2023, Montenegro’s authorities and Ripple agreed on a partnership to launch a pilot project for a national digital currency.

In recent days, the fintech startup announced the acquisition of custodian Metaco. The acquisition will enable Ripple to offer clients tools for custody, issuance and settlement of tokenized assets.