Ripple has been ranked as the top and established leader for Central Bank Digital Currencies (CBDCs) among 15 vendors. The value of CBDC payments is expected to reach $213 billion annually by 2030. Ripple Ranked as Top Leader for CBDCs, Alongside Mastercard and R3 Ripple has been...
- Ripple has been ranked as the top and established leader for Central Bank Digital Currencies (CBDCs) among 15 vendors.
- The value of CBDC payments is expected to reach $213 billion annually by 2030.
Ripple Ranked as Top Leader for CBDCs, Alongside Mastercard and R3
Ripple has been ranked as a top and established leader for Central Bank Digital Currencies (CBDCs), according to its CBDC advisor Anthony Welfare. In a recent tweet, Welfare announced that the Silicon Valley-based tech company was ranked number one for CBDC out of 15 vendors.
@Ripple was ranked number one and an established leader for #CBDC (from 15 vendors)In a recent report from @juniperresearch highlighting the significant transaction growth to $213bn by 2030 Globallyhttps://t.co/CBNvelrhWQ pic.twitter.com/YVA2paoIAQ— Antony Welfare (@AntonyWelfare) May 3, 2023
Ripple’s ranking as an established leader for CBDCs is due to its success with RippleNet, technological capabilities within the CBDC space, and its existing deployments and growth within the emerging space. Ripple shares the top spot with other leading fintech companies, including Stellar, Mastercard, and R3.
Ripple has been selected by several countries to work on different CBDC pilot programs. For example, the Central Bank of Montenegro partnered with Ripple to develop a pilot program for Montenegrin’s digital currency. Similarly, Ripple partnered with Palau and Bhutan’s central banks to create different CBDC pilots. Ripple’s CBDC efforts are aimed at transforming the global financial landscape, making digital payments more accessible and secure for people worldwide.
CBDC Annual Payments to Reach $213B by 2030, According to Juniper Research
Juniper Research, a group of experts analyzing today’s fintech and payments market, has reported that the value of CBDC payments is expected to grow to $213 billion annually by 2030. This is a massive surge compared to the current annual growth of $100 million.
According to the report, the annual value of payments via CBDC has been relatively low because CBDC adoption is currently limited to pilot projects. However, it speculates that governments across the world will drive widespread CBDC adoption. These governments will leverage CBDC to boost financial inclusion and increase their control over how people make digital payments.
As CBDC adoption gains momentum, the demand for related infrastructure, services, and products will also increase. This presents an opportunity for fintech companies like Ripple, who are already leading the way in the CBDC space. The report forecasts that CBDC adoption will spur demand for digital wallets and apps, as well as solutions for anti-money laundering and know-your-customer regulations.
In summary, Ripple’s ranking as a top leader for CBDCs is a testament to its efforts in transforming the global financial landscape. As CBDC adoption continues to gain momentum, the demand for related infrastructure, services, and products will increase, creating opportunities for fintech companies like Ripple.
The forecasted $213 billion annual value of CBDC payments by 2030 highlights the enormous potential of this emerging technology in increasing financial inclusion and driving economic growth.
XRP to Surge to $27?
Crypto analyst Egrag believes that Ripple’s XRP token could reach a value of $27 if it successfully overcomes several challenges, according to an analysis posted on Twitter. Egrag’s “Bermuda Triangle Chart” highlights seven crucial points that XRP must conquer to reach the $27 price target.
#XRP Bermuda Triangle $27:This Chart (Bermuda Triangle Chart) is a combination of previous Charts & Key factors stated by @egragcrypto on previous #XRP Charts. #XRP Price will disappear from the Bermuda Triangle & will never be seen within the triangle.1) The Seven Arcs:… pic.twitter.com/zrC8BJGpbo— EGRAG CRYPTO (@egragcrypto) May 1, 2023
These include the Seven Arcs, the Final Wake-up Line, the Stratosphere, and the Blue Ocean regions. Egrag also stated that XRP must break above the atlas line to be able to conquer the Seven Arcs. The Blue Ocean region is the point where whales accumulate tokens and will ultimately determine whether XRP hits the $27 mark.
Four of the seven arcs lie within the Blue Ocean region. Despite challenges ahead, the prominent crypto analyst remains confident in XRP’s future price action.