Ripple payments decacorn is part of an international consortium that deals with euro-pegged CBDCs
The Digital Euro Association (DEA), a Frankfurt-based think-tank focused on various forms of digital money such as CBDCs, private cryptos and stablecoins, has added Ripple to the list of its “supporting partners.” The blockchain decacorn will assist it in its work on a CBDC pilot.
Digital Euro Foundation welcomes Ripple as a new member
According to an official statement shared by the Digital Euro Association (DEA) on February 11, it has entered into a partnership with the leading cross-border payments operator.
As stated by the representatives of the DEA, Ripple was chosen as its “gold supporting member” due to the level of expertise that its team has in the realm of central bank digital currencies (CBDCs).
As reported by U.Today, Ripple has become the CBDC development partner of the Royal Monetary Authority of the Kingdom of Bhutan.
Jonas Gross, chairman of the Digital Euro Association, is certain that new collaboration will be of crucial importance for CBDC adoption in various countries across the globe:
We are excited that through the partnership with Ripple, we can expand the technological expertise of the DEA community. As more and more CBDC projects around the world reach advanced stages, the technological design of a CBDC will play a key role for decision makers in the near future, whereas previous years focused mainly on research.
Ripple strengthens its position as a CBDC research coordinator
James Wallis, VP of Central Bank Engagements in Ripple, added that technical and promotional efforts around CBDCs are among the key priorities for his team as of 2022:
We are delighted to join the Digital Euro Association as a supporting partner to further develop our work in the CBDC area. The DEA works across Europe and global markets to drive the development and growth of CBDCs and, in particular, the digital euro. Ripple has invested significantly in the world of CBDCs, with a team of around 40 people worldwide helping to develop and deliver solutions for CBDCs and stablecoins. We look forward to working with the DEA to continue our work on CBDCs over the coming months.
Besides the R&D efforts, Ripple will take part in an educational strategy and knowledge exchange between Digital Euro creators and citizens and institutions globally.
As previously reported, Ripple has become a member of the Digital Pound Foundation to help “design a path” for the UK’s GBP-pegged stablecoin.
