Ripple is developing a platform for central banks, governments, and financial institutions to issue their own central bank digital currency (CBDC), offering benefits like minting, distribution, and accessibility in areas with limited internet connectivity. The platform will be tested within the e-HKD pilot program, highlighting its real-world potential and versatility.
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Ripple’s Role in e-HKD CBDC Pilot: Balancing Innovation and Regulation
Ripple is participating in the Hong Kong Monetary Authority’s (HKMA) digital Hong Kong dollar (e-HKD) central bank digital currency (CBDC) pilot program, showcasing a real estate asset tokenization solution and revealing a new CBDC platform. In collaboration with Taiwan’s Fubon Bank, Ripple aims to streamline equity release processes and encourage wider use of digital currencies.