Ripple is working with about 10 governments around the world to develop CBDCs

Odaily News Ripple CEO Brad Garlinghouse said the company is working with about 10 national or regional governments around the world to develop central bank digital currencies (CBDCs). Ripple has been actively involved in the development of CBDCs, working with more than 20 central banks around the world, including Bhutan, Palau, Montenegro, Colombia, etc. The company's vice president, James Wallis, previously emphasized the cost-effectiveness of CBDCs in providing financial services and its ability to simplify payments and credit access. Ripple Labs also released a 23-page white paper reflecting its support for CBDCs. The document explores the fundamentals, benefits and challenges of CBDCs, emphasizing their role in inclusive finance, cross-border payments and monetary policy. (Finance Feeds)