Ripple may soon reveal favorable developments in its central bank digital currency (CBDC) projects following hints from Ripple CBDC adviser Antony Welfare that additional announcements are on the way.
Ripple’s senior adviser Welfare, who manages CBDC Europe and global relationships, answered on the same thread, hinting that more CBDC announcements might be revealed in the coming weeks.
Just last week, Ripple was named as one of the initial participants in the Technical Sandbox Program, which was launched by the United States-based think tank Digital Dollar Project to investigate the possible technical and business repercussions of a CBDC in the United States.
In February, Ripple became a supporting partner of the European think tank Digital Euro Association, with the aim of jointly driving the development and expansion of CBDCs and the Digital Euro.
In June, the blockchain company also introduced its first online central bank digital currency (CBDC) hackathon called “Ripple CBDC Innovate.”
The competition drew 483 participants who were challenged to create CBDC-focused applications that either improve interoperability of CBDCs and digital assets, make retail usage and engagement easier, or introduce banking to underserved populations.
According to the CBDC Innovate website, the first stage finalists will be announced on September 8, after which they will proceed to the second phase of the competition.
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