Ripple (XRP) and Montenegro collaborate to launch CBDC pilot program

·12/04/2023
·Laeti Marison (SatoshiBelle)

Ripple (XRP) has signed an agreement with Montenegro to launch the pilot program for a central bank digital currency (CBDC). The partnership announcement was made today through a Ripple press release published by Business Wire.

Indeed, its ongoing lawsuit against the SEC regulator is not stopping Ripple (XRP) from expanding its business as illustrated by this announcement of an agreement with Montenegro to launch the pilot program of a central bank digital currency (MNBC).

As a reminder, a central bank digital currency, or CBDC, is the digital form of fiat money, an electronic currency issued by a central bank.

The press release states that the Central Bank of Montenegro (CBCG) has agreed to work with crypto and blockchain solutions provider Ripple to develop a strategy and pilot program to launch the country’s first digital currency in the form of a central bank digital currency.

Montenegro where incidentally recently arrested Do Kwon, the co-founder of Terraform Labs (LUNA and UST), click here to read more.

James Wallis, Ripple’s vice president for central bank engagements and CBDCs, commented:

The Central Bank of Montenegro is bringing the next level of digital transformation to its financial infrastructure and addressing some of the world’s biggest financial challenges, including financial inclusion.

While Montenegro is not a major country in Europe and the world, this agreement does highlight crypto startup Ripple’s expertise in this area.

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Article written by: Laeti Marison (SatoshiBelle)

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.