Ripple Intends To Bring XRP Ledger to Central Banks


Amid ongoing lawsuits with the US Securities and Exchange Commission (SEC), Ripple is pressing for bringing XRP Ledger to the central bank.

The cross-border payments firm wants to hire three managers of the central bank’s technical partners, one for each of its offices in San Francisco, New York and London.

Whoever fills the new position will be tasked with designing and implementing a central bank digital currency (CBDC) project.

Ripple notes that banks can issue stablecoins on the XRP Ledger (XRPL).

“Built for payments, XRPL can also be used to support the issuance of stablecoins with the functionality of a unique and interchangeable token called Issued Currencies.

Issued Currencies are designed to be the ideal stablecoin platform, providing issuers with simple yet rich management functionality that makes it easy to create, issue, and manage any asset – including stablecoins. ”

Last week, the Office of the Currency Supervisor (OCC) announced that banks could use stablecoins for payments while serving as nodes on an independent node verification network (INVN).

Ripple, known for its high turnover, currently advertises a total of 27 open positions. The company also recently hired Devraj Varadhan to serve as senior vice president of engineering.

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