Blockchain firm Ripple is negotiating with several central banks to use the XRP Ledger as the basis for national digital currencies (CBDCs). RippleNet general manager Asheesh Birla said:
"CBDCs will be a major acceleration for the adoption of Ripple’s technology. We are meeting and currently discussing strategy with various central banks around the world."
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During a webinar, Birla spoke about how the coronavirus pandemic has contributed to the active expansion of the number of RippleNet participants. According to him, the network is moving beyond payments and into lending products. Birla has also reported on ongoing efforts to resolve the company's disputes with the US Securities and Exchange Commission (SEC).
Ripple has previously filed a response to the SEC's complaint asking the regulator to explain the difference between Bitcoin and Ether and why the latter is not considered a security.
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