The Montenegro central bank has inked a deal with the San Francisco-based blockchain firm Ripple to build a pilot program for its national CBDC.
Notably, over 100 countries are investigating the feasibility of issuing a CBDC.with Ripple, the blockchain firm based in San Francisco, to build a pilot program for the national central bank digital currency .
In a statement, Central Bank of Montenegro Governor Radoje Zugic stated that the project will examine the benefits and risks that CBDCs or national stablecoins may pose in terms of electronic payment availability, security, efficiency, regulatory compliance, and, most importantly, the protection of end users’ rights and privacy.
Over 100 countries are investigating the feasibility of issuing a CBDC. The European Central Bank and the European Union will decide whether to launch a digital euro later this year.Ripple has been discussing CBDCs with approximately 20 central banks over the last few years. Ripple is a technical and research partner in a number of important CBDC programs throughout the world. It has recently begun partnering with several digital Euro, digital Pound, and other initiatives.
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