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Bank of England Mentions Ripple in Its Digital Pound Consultation Paper

Leading blockchain company Ripple has played significant roles in helping central banks in different parts of the world, including Bhutan. Following its considerable efforts towards the development of CBDC, Ripple was recently mentioned in the Bank of England (BoE) consultation paper on the digital pound, U.K.’s digital currency.

According to the consultation paper published on February 7, the Bank of England highlighted that it has a joint project with Ripple. The BoE noted that the project aims to demonstrate that FX transactions synchronized in two simulated Real Time Gross Settlement (RTGS) systems can be executed.

Bank of England writes:

“Cross-border Synchronisation: a joint project with Ripple demonstrating that synchronized FX transactions in two different simulated RTGS systems can be achieved, leading to the incorporation of synchronization functionality into the roadmap for renewal.“

(By LELE JIMA)

Bank of England Ripple CBDCs
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