Ripple, a digital remittance technology company, today announced a cooperation with the Digital Pound Foundation, a non-profit organization. The foundation is trying to create and implement a Digita Pound in the United Kingdom. Ripple would be a founding member, and its considerable experience in facilitating cross-border transactions would aid in the development process.
Susan Friedman, Ripple’s head of policy, will be the company’s representative at the Digital Pound Foundation. She emphasized the significance of this relationship for the global financial system’s evolution
“We are excited to support the design and implementation of a digital Pound in partnership with the Digital Pound Foundation. The Foundation will help advance the UK’s goal to build a more inclusive and sustainable financial system.”
The fintech firm’s latest agreements could help it become a top infrastructure developer in the CBDC industry, given the growing demand for CBDCs from roughly 80% of countries around the world.
Experiments with GBP-based CBDCs, according to Ripple, will assist the UK to secure its place in the Web3 era’s global financial scene.
Ripple on to New Partnerships!
Ripple’s long-term cooperation with the Digital Pound Foundation is expected to underline the company’s commitment to stablecoins. It has formed a cooperation with Bhutan’s Royal Monetary Authority, the country’s central bank (RMA).
The platform will support Bhutan’s CBDC workload with technical, consulting, and advisory services.
The main aim is to create an eco-friendly stablecoin is perfectly linked with Bhutan’s vision and objective, as it is the world’s first carbo-neutral nation-state.
XRP/USD is volatile around the levels of $1 and $1.20. Currently, the latter value looks to be the principal restraining line against price, attempting to push upward. As the bullish trend line pulled below the bigger indicator to perform a supporting role, the 50-day SMA trend line is beneath the 14-day SMA trend line.