Despite XRP Litigation, Ripple Doesn’t Slow Down – Here’s a New Partnership from the Company!

Bhutan has chosen the San Francisco-based company as its CBDC partner. Ripple is collaborating with the Central Bank of Bhutan to launch a CBDC trial.

According to information from Nikkei, a Japanese financial news outlet, the Royal Monetary Authority of Bhutan will begin testing the digital currency in collaboration with Ripple.

The San Francisco-based company will integrate its distributed ledger technology into Bhutan’s existing payment system. During the trial period, the central bank digital currency powered by Ripple will be used for cross-border remittances and payment services.

Judging by the information obtained; The partnership seems to have been on the agenda for a while. Tashi Yezer, senior payment systems officer at the Central Bank of Bhutan, was one of the speakers at Ripple’s Swell APAC webinar that took place in April.

As previously reported, Ripple announced a special version of XRP Ledger designed for central banks in early March. The company offers this solution; instantly marketed it as energy efficient and reliable.

Ripple CTO David Schwartz recently introduced the concept of a federated sidechain on XRP Ledger that would allow central banks to set up their own networks, even publishing a white paper called “The Future of CDBCs”. In addition, CEO Brad Garlinghouse stated that one of the most important goals of his company is to create a platform that will enable different CBDCs to work together.

In July, Asheesh Birla, Managing Director of RippleNet, revealed that his team has been in “long-term” discussions with central banks. Judging by these developments; The company wants to improve itself on CBDC.

The company, which is currently in a legal battle with the US SEC, claims that its business continues to thrive outside of the US despite its legal troubles in the United States.

How Is The XRP Litigation Affecting Ripple’s Business?

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