TechFlow news, according to Theblock, Ripple is collaborating with the Central Bank of Colombia to explore multiple use cases of blockchain technology in the South American country. To enhance the nation's high-value payment system, Banco de la República will partner with the Ministry of Information and Communications on a pilot project utilizing Ripple's CBDC platform.
Ripple has been in negotiations with the Central Bank of Colombia for over a year and is now working with Spanish blockchain technology firm Peersyst Technology on this pilot initiative. Joe Vollono, Ripple’s Director of CBDC Business Development, said: “When we talk about high-value payment systems, we typically refer to large-scale, wholesale payments, RTGS systems, and related financial services and infrastructure that could benefit from distributed ledger technology—so that’s really the focus of exploration here.”
