The digital payment firm based on blockchain Ripple, a company that uses blockchain-based digital payment technology, has joined the Digital Pound Foundation to assist in creating central bank digital currencies.
Integrating with The Digital Pound FoundationIn an earlier announcement that the enterprise blockchain company will participate in CBDC projects by registering with the Digital Pound Foundation.

This independent forum aims to promote the development of the pound digital currency and a digital money ecosystem within the United Kingdom. It was established on October 14th by the founding members of The Forum. Other than Ripple and other members, the group includes Accenture, Avalanche, Billon Group, CGI, Electroneum and Quant.

In the statement, Ripple reminded that more than 80 per cent of Central banks are examining various digital initiatives, including CBDCs, that could improve the financial system. This is why the solution offered by the payment network could benefit the objectives that the DPF is pursuing.

Ripple’s Other CBDC ProjectsIt’s not the first time Ripple, a blockchain company, has been involved in a similar program. As CryptoPotato stated earlier this month, the central bank of Bhutan – known as the Royal Monetary Authority (RMA) has teamed up with Ripple to develop an electronic version of the national currency.

With the initiative’s launch, the RMA hopes to “enhance digital and cross-border payments and expand financial inclusion efforts” by 85% over the coming two years.

Ripple stated it believed that their CBDC solution is the perfect suitable match for Bhutan’s green initiatives since Bhutan is an Asian nation is believed as the carbon-free country on the planet.

Recently, Ripple announced to collaborate with Asian nation Bhutan to assist develop CBDC in Ripple’s private blockchain. The project is being tested on a pilot basis currently.

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