Ripple And Digital Pound Foundation Units To Develop British CBDC

Along with Accenture, Avalanche, Billon Group, and CGI, Ripple became a founding member of the Digital Pound Foundation.

Ripple, a blockchain-based startup, has announced an official partnership with the Digital Pound Foundation (DPF), an independent forum, to examine the creation and implementation of British CBDC in the United Kingdom.

Avalanche is cooperating with the DPF on the initiative, in addition to Ripple, the fastest smart contract business.

The Digital Pound Foundation is a non-profit dedicated to the creation and deployment of a well-designed digital pound for the United Kingdom.

To implement British CBDC, the Foundation will conduct research and exploratory projects.

CBDCs and other digital money forms, according to DPF, can help to build inclusive payment services like programmable money and bolster the UK’s payments infrastructure.

On October 14, Ripple announced its participation with the independent forum and expressed enthusiasm for the idea.

Susan Friedman, Ripple’s Head of Policy, stated that the relationship is part of Ripple’s continuous work with central banks throughout the world on technical and policy problems related to the development of CBDCs.

Friedman stated that DPF, in partnership with Ripple, will assist the United Kingdom in achieving its aim of creating a more equitable and sustainable financial system.

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