🔥BIG BREAKING 🚀
RBI Confirms the Use of Ripple’s XRP Ledger for Digital Rupee Project🤑
How does it work
India's central bank, the Reserve Bank of India (RBI), has confirmed the use of Ripple's XRP Ledger for its Digital Rupee project. This collaboration aims to enhance the efficiency and security of the Digital Rupee, leveraging Ripple's expertise in blockchain technology and cross-border transactions.
Maintained by a global community of businesses and developers, the XRP Ledger (XRPL) is a decentralized, public blockchain designed for high-performance and low-cost transactions.
Introduced by India's finance minister in February 2020, the Digital Rupee (e₹) is a tokenized digital version of the Indian Rupee, issued by the RBI as a Central Bank Digital Currency (CBDC). The Digital Rupee is divided into two segments : Wholesale (e₹-W) for financial institutions and Retail (e₹-R) for consumer and business transactions.
