TechFlow reported, according to BusinessWire, Ripple announced the launch of its Ripple CBDC platform, which enables central banks, governments, and financial institutions to issue digital currencies.
Using Ripple's platform, government agencies can manage and customize the entire lifecycle of CBDCs, including minting, distribution, redemption, and token destruction.
Financial institutions will also be able to utilize CBDCs for inter-institutional settlements and management of distribution functions. Central banks can issue both wholesale and retail CBDCs and support offline transactions.
The platform is an enhanced version of Ripple Private Ledger, which has been issuing CBDCs since 2021 and is built on Ripple’s XRP Ledger.
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