Coingradient

Cryptocurrencies, blockchain, NFT and new trends

Is Ripple Powering India’s One Million CBDC User Goal?

Crypto News: In the wake of India’s recent experimental projects with the central bank digital currencies (CBDCs), latest reports suggest the country has an ambitious target with regard to domestic payments. The country’s central bank, the Reserve Bank of India (RBI), initiated a pilot project on usage of CBDCs for retail and wholesale use. The authorities recently said the CBDCs could potentially offer benefits like financial inclusion and improved payment systems. In a latest, the plans for CBDC adoption in the country could be expanded for a wider usage.

India’s Goal For CBDCs

In this context, reports suggest India has an ambitious goal to reach a million CBDC users very soon. But the crypto community is speculating if the RBI is making use of Ripple’s XRP Ledger technology. A Twitter user asked if Ripple was behind India’s CBDC initiative,

Live Cryptocurrency Prices, charts and portfolio

AVAX Price Prediction: New Bullish Pattern Sets Avalanche Price for a 10% Upswing24/7 Cryptocurrency News Dogecoin Price is at Risk of 10% Downfall Before the Next Recovery Cycle Begins24/7 Cryptocurrency News Solana Price at Critical Juncture Aims 30% Rally if Buyers Break this Key Resistance24/7 Cryptocurrency News ADA Price Prediction: Potential Breakout from Multi-Month Resistance Sets Cardano Price for 40% rally24/7 Cryptocurrency News ETH Price Prediction: Ethereum Price Aims $2800 Target As Bullish Recovery Resumes; Enter now?24/7 Cryptocurrency News Track Crypto Ad

However, the authorities have not clarified about the technical aspects of the India CBDC project. The XRP Ledger allows for minting, managing, transacting, and destroying CBDCs.

Источник