Ripple Joins the Digital Pound Foundation

According to its announcement, the fintech giant will determine the future of GBP-based CBDCs. With the new collaboration, Ripple, a digital payments decacorn, reaffirms its commitment to the stablecoin sector. Its officials will expedite the development of the CBDC linked to the British Pound.


To assist with the transition to stablecoins, Ripple Inc.

Ripple has joined the UK-based non-profit Digital Pound Foundation as a foundation member, according to an official announcement published on its official website.

Susan Friedman, Ripple's head of policy, will serve as the corporation's representative at the Digital Pound Foundation. She emphasized the partnership's critical role in the development of the global financial system:

We are delighted to collaborate with the Digital Pound Foundation to develop and execute a digital Pound.

The Foundation will contribute to the United Kingdom's objective of developing a more equitable and sustainable financial system.

Ripple continues by stating that trials with GBP-based CBDCs will assist the United Kingdom in securing its position in the Web3 era's global financial environment.

As previously reported by U.Today, Ripple's competitor Stellar would collaborate with Moneygram using the second-largest stablecoin, USD Coin (USDC).


Carbon neutralization of stablecoins

Long-term collaboration with the Digital Pound Foundation is expected to reinforce Ripple's commitment to the stablecoin space. It has formed a cooperation with the Royal Monetary Authority of Bhutan, the country's national bank (RMA).

Ripple will assist Bhutan's CBDC workload with technical, consulting, and advisory help.

As the world's first carbohydrate-free nation-state, Ripple's approach of developing an environmentally sustainable stablecoin is ideally matched with its vision and purpose.

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