Ripple to Help UK with CBDC Development
Main page News, Ripple, UK, CBDC, Regulations

Ripple has announced it has joined the Digital Pound Foundation, a non-profit organization focused on the development and implementation of a central bank digital currency (CBDC) in the United Kingdom. The San Francisco-based company said in an announcement it will engage with regulators on "technical and policy issues related to central bank digital currencies."

"The Foundation will help advance the UK's goal to build a more inclusive and sustainable financial system," said Susan Friedman, Head of Policy at Ripple.

UK's FCA to Use Blockchain for Regulatory Reporting

The organization sees a huge potential for a CBDC as the digital pound might underpin the UK's transition to an "innovative digital economy and society." Ripple's desire to help with CBDCs comes after Sendi Young, managing director of Ripple Europe criticized the SEC's "unclear" approach to regulate the cryptocurrency industry.

She also said that countries such as Japan, Singapore and the UK are doing much better by creating regulatory frameworks that provide regulatory clarity.

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