Ripple, the San Francisco-based cross-border payment firm, is now an official member of the Digital Euro Association (DEA), a think tank specializing in crypto assets, stablecoins, central bank digital currencies (CBDCs), and other forms of digital money.
According to the report, the blockchain payment behemoth is listed as a supporting partner and will assist the association in its work on a CBDC pilot. This indicates that Ripple is getting the necessary recognition due to the versatility of its team in the realm of CBDCs.
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According to Jonas Gross, chairman of the Digital Euro Association, it’s certain that the new collaboration will be crucial for the adoption of CBDC in various countries across the world.
Jonas Gross noted:
“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.”
Reacting to the new development, VP of Central Bank Engagements at Ripple, James Wallis, stated that the new membership will help his team to further develop in the aspect of CBDC:
“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.”
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According to the report, Ripple will also participate in an educational strategy and knowledge exchange between Digital Euro creators, citizens, and institutions across the world.
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