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Ripple SVP Says Firm Is Working With Over 20 Countries on CBDCs

Ripple has been forced to build quickly outside the U.S. due to regulatory headwinds.

Ripple Senior Vice President and Managing Director for the Asia-Pacific (APAC) and Middle East and North Africa (MENA) regions, Brook Entwistle, has let slip that the enterprise blockchain giant is working with over 20 countries on the development of central bank digital currencies. 

Entwistle disclosed this in a recent interview with Forkast. The Ripple executive noted that while countries like China were ahead in the CBDC race, smaller countries with fewer resources and unique issues turned to private companies like Ripple for help.

Entwistle touted CBDCs as one of the best use cases of blockchain technology, asserting its ability to drive economic growth and financial inclusion.

(By OKOYA DAVID)

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