Ripple has started a platform which central banks, governments, and financial institutions can tap to issue central bank digital currencies (CBDC).
Ripple’s platform lets government and institutions manage and customize the entire life cycle of the CBDC, which includes minting, distribution, redemption and token burning.
Also, central banks can issue both wholesale and retail CBDCs, which can make offline transactions as well.
The platform is powered by the XRP Ledger, but was built on a new private ledger.
