Ripple is working with more than 20 countries on CBDC plans - Brooks Entwistle Ripple XRP centralbankdigitalcurrency
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“No two situations, no two central banks, no two countries are the same. There are 200-plus countries out there. There are a lot of central banks and they have different needs and there are different parts of this journey,” Entwistle said. “So, we are in dialogue with not ten, not twenty, but a bunch more central banks around the world on these discussions. We’ve announced projects with Bhutan, with Palau, and others to come, and I think that just shows you that this really resonates now.
The U.S. risks falling further behind in the CBDC race due to its oppositional stance to the crypto industry, he warned, which will only serve to push projects and companies to more welcoming jurisdictions. For now, the company is focused on building and innovating, and they will deal with the outcome of the SEC case when it is known. Entwistle suggested that this was the best path forward, especially in an environment where capital is drying up and companies are struggling to stay afloat.
And it’s not just individuals that stand to benefit, he added, as small businesses in underbanked regions will also reap the rewards of being able to easily move capital between offices or across borders and having a clientele that can pay via official channels. “So there’s a lot of room to run, but we have to continue to be mission-driven on that front, because when you are, it keeps you honest with policymakers.
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