CBDC: Ripple collaborates with the Central Bank of Montenegro

The blockchain company Ripple and the central bank of montenegro will launch a pilot project from CBDC.

This Tuesday, Ripple and Centralna Banka Crne Gore (CBCG) have jointly announced an agreement with the objective of developing a strategy and a pilot project from central bank digital currencyalso known as CBDC.

As a central bank committed to following national banking trends, Centralna Banka Crne Gore is actively working to maintain an efficient financial system. We look forward to working with Ripple on the pilot project to create CBDC or stablecoin,” CBCG Governor Radoje Žugić said in a statement.

The executive said that as part of the project, the bank would work with the government and local universities to study the benefits and risks of CBDCs.

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Today, a large majority of central banks, including the ECB with its e-euro, explore the potential of CBDCThese are digitized versions of the coins. The latter can be addressed to individuals (CBDC retail) or institutions (CBDC wholesale).

Ripple has a proven track record of connecting disparate payment systems and championing the utility of the blockchain to issue CBDC. We are delighted that the Central Bank of Montenegro has chosen Ripple to help launch its first digital currency “For his part, James Wallis, vice president CBDC at Ripple, was pleased.

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