Ripple Becomes Member of Digital Euro Association: Details

The Digital Euro Association (DEA), a Frankfurt-based think-tank focused on various forms of digital money such as CBDCs, private cryptos and stablecoins, has added Ripple to the list of its "supporting partners." The blockchain decacorn will assist it in its work on a CBDC pilot.

Digital Euro Foundation welcomes Ripple as its newest member

As per an official statement shared by the Digital Euro Association (DEA) on Feb.11, it entered into a partnership with the leading cross-border payments operator.

As stated by the representatives of the DEA, Ripple was chosen as its "gold supporting member" due to the level of expertise that its team has in the realm of central bank digital currencies (CBDCs).

As reported by U.Today, Ripple became the CBDC development partner of the Royal Monetary Authority of the Kingdom of Bhutan. 

Jonas Gross, chairman of the Digital Euro Association, is certain that new collaboration will be of crucial importance for CBDC adoption in various countries across the globe:

We are thrilled that, due to the partnership with Ripple, we can extend the technological expertise of the DEA community. As more and more CBDC projects worldwide reach advanced stages, technological design of a CBDC will play a key role for policy-makers in the near future, while previous years focused primarily on research

Ripple strengthens its position as a CBDC research coordinator

James Wallis, VP of Central Bank Engagements in Ripple, added that technical and promotional efforts around CBDCs are among the key priorities for his team as of 2022:

We are excited to join the Digital Euro Association as a supporting partner to further develop our work in the CBDC area. The DEA is working across Europe and global markets to drive the development and growth of CBDCs and, specifically, the Digital Euro. Ripple has invested significantly in the CBDC world, with a team of around 40 people globally, helping develop and deliver solutions for CBDCs and stablecoins. We look forward to working with the DEA to further our work on CBDCs over the next few months

Besides the R&D efforts, Ripple will take part in an educational strategy and knowledge exchange between Digital Euro creators and citizens and institutions globally.

As previously reported, Ripple became part of the Digital Pound Foundation to help with "designing a path" for the GBP-pegged stablecoin of the United Kingdom.