Ripple To Deploy Climate Friendly National Digital Currency In Partnership Wi...
With the increase in the adoption of digital assets across several mainstreams, some countries are strategizing on moving with the flow. Hence, most countries across the globe are working and experimenting on developing a national digital currency that they can link with their fiat currencies. This is the primary reason for collaboration between the Republic […]
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The partnership will help Palau be climate-friendly while enhancing its cross-border payments and digital currency technologies. Ripple, the digital payment network, has partnered with the Republic of Palau to help the Pacific island nation develop its own digital currency.The initial focus of the partnership will see the development of a USD-backed digital currency to help facilitate cross-border payments for the nation. The collaboration “could see the implementation of the world’s first government-backed national stablecoin in the first half of 2022” according to Ripple's....
Digital payment network Ripple has partnered with the Republic of Palau to develop its own digital currency. The payment network is still on a mission to dominate the global payments industry. That is, despite the issues it is dealing with in the U.S. Related Reading | SEC Takes Blow In Action Against Ripple, Will It Impact XRP Price? Like El Salvador, the country does not have its own fiat currency or even a Central Bank. Its legal tender, instead, is the U.S. dollar. The partnership with Ripple will focus on developing a USD-backed digital currency, more like a stablecoin rather....
Ripple Labs CEO Chris Larsen sent the digital currency community buzzing this week when he tweeted that Ripple Labs is working with Western Union on real-time payment settlements. Many view such a partnership as a sign of Western Union's willingness to become more active in the digital currency space. The partnership also signifies a growing recognition of Ripple Labs' open protocol that lets people send digital currency across the Internet-based distributed network. Ripple Labs signed an agreement in the fall with two U. S. banks (Cross River Bank in New Jersey and Kansas-based CBW Bank)....
In a significant announcement, the National Bank of Georgia (NBG) has shortlisted Ripple Labs alongside eight other firms as potential technology partners for its Central Bank Digital Currency (CBDC) pilot project titled “Digital GEL.” Ripple Is In The Shortlist Of Nine In an official press release dated September 28, 2023, the NBG disclosed its intent […]
The company claimed its CBDC solution would allow Bhutan's central bank to deploy a digital ngultrum "without compromising financial stability or monetary policy objectives.” The Royal Monetary Authority of Bhutan is partnering with Ripple to pilot a central bank digital currency in the mountainous kingdom.In a Wednesday announcement, Ripple Labs said Bhutan’s central bank would be taking advantage of the company’s private ledger to issue and manage a digital ngultrum. According to Ripple, the move was motivated by the Royal Monetary Authority’s, or RMA’s, effort to improve cross-border....