Ripple to Pilot Bhutan’s CBDC Using Private Ledger

Posted on by American Coins & Gold

Ripple to Pilot Bhutan’s CBDC Using Private Ledger
Enterprise blockchain provider Ripple is partnering with Bhutan’s central bank to pilot a central bank digital currency (CBDC), the company said in a press release on Thursday.The Royal Monetary Authority (RMA) will use Ripple’s CBDC Private Ledger to run retail, cross-border and wholesale-payments pilot tests of a digital version of the ngultrum, Bhutan’s national currency. The pilot will be built atop the country’s current payments infrastructure and will be conducted in phases.Bhutan’s stated goal is for its population to reach 85% financial inclusion by 2023. An RMA report published in December last year puts one measure of Bhutan’s financial inclusion…