Bank AI

<figure> 
 <figcaption>
   Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
<p>Ripple Labs Inc is gaining more recognition for its innovations in the fintech world as American payments giant Mastercard Inc has onboarded the firm as part of its Central Bank Digital Currency (CBDC) alliance. As <a href="https://www.mastercard.com/news/perspectives/2023/cbdcs-trust-and-the-evolution-of-money/" rel="noopener noreferrer nofollow">announced</a> by Mastercard, Ripple will join other innovators in the fintech world, including ConsenSys, Fluency, Idemia, Fireblocks and Consult Hyperion, all of which are part of the alliance.</p> 
<h2 id="expectations-from-alliance">Expectations from alliance</h2> 
<p>According to Mastercard, the alliance is being convened to help bring a greater understanding of the benefits and limitations of CBDCs and how to implement them in a way that is safe, seamless and useful. Each of its partners brings something tangible to the table, and while Ripple's presence will bolster the understanding of the ease of CBDC deployment, entities like Fireblocks will contribute security insights to the alliance.</p> 
<p>Ripple has expanded its role in the CBDC scene over the past few years as it looks to help central banks achieve their respective goals in this new niche. The company boasts of the fact that it has a responsive and <a href="https://u.today/ripple-cbdc-advisor-excited-at-xrpls-real-world-utility-details" rel="noopener noreferrer nofollow">scalable infrastructure</a> that can support mass transaction throughput and customization.</p> 
<p>Being a part of the Mastercard-backed alliance is at best a validation of its comparative innovation in pursuit of CBDC emergence.</p> 
<h2 id="ripple-s-effort-in-cbdc-pursuit">Ripple's effort in CBDC pursuit</h2> 
<p>The move to become a global leader providing CBDC support to central banks has been an integral part of Ripple Labs' growth over the years. As <a href="https://u.today/ripple-partners-with-industry-titans-in-major-giveaway-to-fuel-cbdc-innovations" rel="noopener noreferrer nofollow">reported</a> earlier by U.Today, the company is known for inking a number of strategic partnerships to help fuel its CBDC agenda.</p> 
<p>Prior to the Mastercard alliance, Ripple has been actively involved in the national digital currency pursuit for a number of central banks, <a href="https://u.today/ripple-teams-up-with-colombias-central-bank-to-create-cbdc-on-xrp-ledger" rel="noopener noreferrer nofollow">including,</a> but not limited to, Colombia and Bhutan. With the firm expanding its reach to other nations, it is poised to contribute in a unique way to the Mastercard CBDC consortium.</p>

Ripple Joins Mastercard Alliance for CBDC Development

Table of Contents

U_Today

Other articles published on Aug 18, 2023

Analysts Predict BTC/ETH Collapse as End of Altcoin Reckoning

Layer-one ecosystem ZetaChain raises $27 million in funding round led by Blockchain.com

The Meteoric Rise and Fall of WorldCoin: Privacy Over Price?

DeFi Project on Optimism Network Hacked! Lost How Much?

Hackers Steals $870K From RocketSwap on Base

Philippines Investigates New Schemes of P2E Games

Join our free newsletter for daily crypto updates!