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Ripple's Top Exec Drops Major Update on Joint Project with Montenegro

Wed, 07/26/2023 - 14:40
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Gamza Khanzadaev
CBDC chief at Ripple unveils major update on joint stablecoin project with Montenegro
Ripple's Top Exec Drops Major Update on Joint Project with Montenegro
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Antony Welfare, the CBDC advisor at Ripple, shared a major update on the ongoing joint project with Montenegro. As was officially announced back in April, the Central Bank of Montenegro and representatives from the crypto company formed a partnership to work on the implementation of a national stablecoin pilot project.

Ripple Partners With Central Bank of Montenegro for CBDC and Stablecoin Developments

The latest progress on the project was marked by a two-day visit of Ripple experts to Montenegro on July 25-26 July. During their visit, the experts conducted two educational workshops focusing on tokenization and the Web3 economy.

The main objective of these workshops was to equip participants with the knowledge and skills necessary to understand blockchain technology and explore the vast possibilities it offers.

Welfare expressed delight in working with Montenegro's team on the continuation of activities related to the national stablecoin pilot project. This collaboration signifies a momentous step toward shaping the future of digital currencies and their integration into the country's financial landscape.

Among other things, the visit provided an opportunity for experts to engage in productive work meetings with various interested groups like financial service providers, government institutions, the private IT sector and the academic community.

Ripple Partners With Industry Titans in Major Giveaway to Fuel CBDC Innovations

These meetings aimed to foster discussion and exchange ideas regarding the identification of potential use cases for testing the stablecoin within Montenegro. By exploring these use cases, the project aims to assess the potential impact of CBDCs on applicable regulations, cybersecurity and the protection of end users' rights and privacy.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.