According to Odaily, Ripple's CEO, Brad Garlinghouse, has announced that the company is collaborating with approximately ten governments worldwide to develop Central Bank Digital Currencies (CBDCs). Ripple has been actively involved in the development of CBDCs, partnering with over 20 central banks, including those in Bhutan, Palau, Montenegro, and Colombia.
Previously, the company's Vice President, James Wallis, highlighted the cost-effectiveness of CBDCs in providing financial services, as well as their ability to simplify payments and credit access. Ripple Labs has also released a 23-page white paper reflecting its support for CBDCs. The document explores the fundamentals, benefits, and challenges of CBDCs, emphasizing their role in inclusive finance, cross-border payments, and monetary policy.