Ripple partners with Digital Euro Association to work on CBDCs

The Digital Euro Association (DEA) announced a partnership with Ripple (XRP/USD) to collaborate on central bank digital currencies (CBDCs), DEA posted on its website. Ripple is also cooperating with Bhutan’s central bank to carry out the latter’s pilot CBDC project.

Ripple developed blockchain infrastructure to support CBDCs

Ripple is a leading provider of enterprise crypto and blockchain solutions for cross-border payments. They have developed blockchain-based infrastructure to support CBDCs and extend efforts around these currencies globally as a member of the Digital Pound Foundation.

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The partnership will include mutual educational efforts around digital currencies and knowledge exchange.

James Wallis, VP of Central Bank Engagements at Ripple, commented:

We are excited to join the Digital Euro Association as a supporting partner to further develop our work in the CBDC area. The DEA is working across Europe and global markets to drive the development and growth of CBDCs and, specifically, the Digital Euro. Ripple has invested significantly in the CBDC world, with a team of around 40 people globally, helping develop and deliver solutions for CBDCs and stablecoins. We look forward to working with the DEA to further our work on CBDCs over the next few months.

Jonas Gross, Chairman of the Digital Euro Association, said:

We are thrilled that, due to the partnership with Ripple, we can extend the technological expertise of the DEA community. As more and more CBDC projects worldwide reach advanced stages, technological design of a CBDC will play a key role for policy-makers in the near future, while previous years focused primarily on research.

About the DEA

The Digital Euro Association (DEA) is a think tank specializing in central bank digital currencies (CBDCs), stablecoins, crypto assets, and other forms of digital money based in Frankfurt, Germany. In particular, it focuses on the digital euro.

About Ripple

Ripple’s long-term vision is to enable the Internet of Value, where the world moves value like information moves today.

Through RippleX, Ripple contributes to accelerating the Internet of Value by participating in a community of developers and inspiring members to build solutions that use the XRP Ledger, its native digital asset XRP, and related technologies.