Ripple CEO Brad Garlinghouse has recently been featured in a video clip where he discussed the collaboration between his crypto firm and approximately 10 governments globally on central bank digital currencies (CBDCs). The video, entitled “Disrupt or Enable: Materializing the Internet of Value,” was filmed during a live event on October 19, 2023, hosted by Metaco, a company that Ripple acquired earlier in the year.
In the interview, Garlinghouse mentioned that Ripple has invested in partnerships with various governments to develop central bank digital currencies. He explained that a central bank digital currency functions as a stablecoin issued by the government itself.
Furthermore, Garlinghouse emphasized the importance of clear regulatory guidelines for stablecoins to ensure consumer safety and security for all parties involved. He also touched on Ripple’s recent introduction of Ripple USD (RLUSD), a stablecoin backed 1:1 by the US dollar, which will be available on the XRP Ledger and Ethereum platforms later this year.
During the interview, Garlinghouse also touched upon Ripple’s legal victory over the US Securities and Exchange Commission (SEC), which has allowed the company to expand globally in regions with well-defined regulatory frameworks. He clarified the distinction between Ripple and XRP, highlighting the acquisition of Metaco as a strategic move to offer custody solutions and ensure regulatory compliance.
In previous announcements, Ripple disclosed discussions with over 20 countries regarding CBDC plans, leading to enhancements in their CBDC platform to cater to the needs of central banks, financial institutions, governments, and commercial banks in developing customized currency plans and prototypes.
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