On Tuesday, The Bank of England along with the HM Treasury have published a a consultation paper confirming they are currently using Ripple. There is no clarification whether not this also includes XRP, however considering that Ripple CEO Brad Garlinghouse announced earlier this year that more than 50% of all RippleNet volume is going through the XRP ledger, we can assume this joint project between Ripple and the Bank of England is more than likely an XRP enabled project.
The consultation paper that was published today was titled “the digital pound: a new form of money for households and businesses?” A big part of this consultation paper is the fact that this is an official announcement of a digital pound CBDC project, that Ripple is included in for RTGS (Real-Time Gross Settlement).
JUST IN:
Bank of England launches digital pound CBDC project.
— Watcher.Guru (@WatcherGuru) February 7, 2023
This is absolutely huge for XRP holders. Back in early 2017, Ripple announced that they chosen to be apart of the “Bank of England FinTech Accelerator”. Ripple is confirmed to be working with the central bank of England for ‘at least’ six years, and now an official CBDC project has been announced that Ripple is apart of.
It is also good to keep note of the fact that in 2022 Ripple significantly ramped up advertising and publicl speaking about big progress being made with CBDC’s around the world on the XRP ledger. Yes, there was a specific animated video put out by Ripple saying that they were helping central banks build CBDC’s on the XRP ledger.
Personal side note from author: “I simply cannot believe news like this is coming out today, and XRP is not moving in price. Surely in due time, the big movement will come as Ripple is doubling down with central bank digital currency projects all around the world. London is ready.”
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