XRP Price Projection: Assessing The Ripple-Colombia Central Bank Partnership
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To improve the country’s high-value payment system, Colombia’s central bank is experimenting with Ripple’s new end-to-end central bank digital currency technology. How will this collaboration affect the price of XRP? On Thursday, Ripple announced that the central bank of Colombia and the Ministry of Information and Communication Technologies (MinTIC) would be exploring the use of blockchain technology in the country’s high value electronic payment system with Ripple. The central bank did not specifically state it will pilot test a central bank digital currency, even though it will employ Ripple’s CBDC platform, supported by a private version of the XRP Ledger.
Vincent Van Code, a software engineer and long-time XRP advocate, ignited fresh debate across the crypto community by outlining what he believes to be the transformative implications of Ripple’s bid for a US banking charter and a Federal Reserve master account. The developments, which Ripple confirmed 2 July, would position…