- Ripple partners with Bhutan central bank to pilot CBDC.
- Bhutan will use Ripple’s Private Ledger throughout the pilot.
- The CBDC pilot forms part of Bhutan’s goal to increase its financial inclusion population status to 85% by 2023.
Ripple has announced its welcoming partnership with Bhutan’s central bank — the Royal Monetary Authority (RMA). Under this joining, Ripple will support Bhutan’s central bank to launch a central bank digital currency (CBDC) using its Private Ledger.
Based on a press release published today, they will launch the CBDC specifically within the scope of the country’s payment infrastructure. Meanwhile, the report did not specify the actual date of the pilot.
If this happens, the Royal Monetary Authority (RMA) will use Ripple’s groundbreaking technology in so many ways. In essence, the RMA will test ngultrum — a digital version of Bhutan’s nation…