The Central Bank Digital Currency (CBDC) initiative has grown to become a significant aspect of finance that has started gaining global adoption. And Ripple, the US-based cross-border payment platform is not lagging behind in this trend.
In a new development, Mastercard, a leading payment processing firm, has become the latest platform to embrace CBDC, leading to its latest partnership with Ripple and other top CBDC players.
The new partnership aims to discover and design innovative digital currencies with central banks all over the world.
Mastercard CEO, Michael Miebach, tweeted, “We’re partnering with several central banks to help them research new digital currencies projects. It starts with understanding what they want to achieve with this technology, then building in transparency, consumer privacy and stability.”
We’re partnering with several central banks to help them research new digital currencies projects. It starts with understanding what they want to achieve with this technology, then building in transparency, consumer privacy and stability.
— Michael Miebach (he/him/his) (@MiebachMichael) August 17, 2023
We’re working toward those goals with a…
Implication Of Ripple’s Inclusion In Mastercard’s New Integration
Ripple’s inclusion in Mastercard’s latest collaboration highlights the massive influence of the cross-border payment platform in the global digital currency sphere.
Notably, the sealed collaboration involves the top blockchain, web3, and finance industries.
Thus far, Ripple’s CBDC has grown into a dependable platform. The growth is evidenced by several partnerships between the platform and central banks of several nations like Colombia, Montenegro, Hong Kong, and Bhutan.
Apart from Ripple, other key players in Mastercard’s newest integration include Giesecke+Devrient, a German firm renowned for distributing and providing banknote and smart cards, Fluency, a blockchain-empowered CBDC platform, Fireblocks, a unique platform for developing digital assets business enterprise.
Other platforms in Mastercard’s recent collaboration include Consensys, Idemia, and Consult Hyperion.
Ripple’s XRP Continues To Soar In Adoption
Per a previous update, Ripple’s native token, XRP has scored another listing, corroborating claims of the token’s soaring adoption and utility.
BIT, a leading cryptocurrency exchange renowned for trading options, recently announced that it has included XRP as a payment option in its trading platform.
It is worth noting that the outcome of Judge Torres’ ruling in the protracted Ripple vs. the United States Securities and Exchange Commission (SEC) lawsuit was crucial in XRP’s listing by BIT.
In addition, XRP registered another significant listing with Gemini, a leading crypto exchange in the United States. This continued listing of XRP on various represents the growing faith in the embattled digital asset.
It is worth noting that an appeal on Judge Torres’s ruling in the SEC Vs. Ripple legal battle is imminent as significant progressive moves have been initiated for a potential review in the law court.
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