Royal Monetary Authority of Bhutan and Ripple to pilot CBDC wi | CryptoSoul

Royal Monetary Authority of Bhutan and Ripple to pilot CBDC with private blockchain

Ripple, the provider of enterprise blockchain and crypto solutions for cross-border payments, today announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority (RMA), to pilot a central bank digital currency (CBDC) using Ripple’s CBDC Private Ledger.

Building atop its current payments infrastructure, the RMA will pilot retail, cross-border and wholesale payment use cases for a digital Ngultrum in phases using Ripple’s sustainable blockchain technology. Doing so will help accelerate its mission to increase financial inclusion in Bhutan to 85% by 2023.