In a tweet on Tuesday, the Digital Euro Association disclosed that blockchain and payments behemoth Ripple is one of the sponsors of its summer event beginning next week.
The DEA is an independent think tank dedicated to advancing research and instruction in the digital euro debate. Notably, Ripple joined the company as a partner in February and is the only one listed as a “Supporting Gold Member.”
To advance our efforts in the CBDC field, we are thrilled to become a supporting partner of the Digital Euro Association. According to James Wallis, VP of Central Bank Engagements at Ripple, “The DEA is working throughout Europe and worldwide markets to encourage the creation and expansion of CBDCs and, in particular, the Digital Euro.”
The concept of CBDCs has long been supported by Ripple. In addition to the DEA, the company also claims a collaboration with the Digital Pound Association, which it joined in 2021. Furthermore, Ripple has a history of collaborating with many governments to develop CBDC solutions.
Earlier this month, the industry leader in payments introduced the Ripple CBDC Innovate hackathon, which included a $47,000 initial prize pool and an additional $150,000 reward pool at a special winners-only event. Interoperability, retail-facing, and financial inclusion will be the main topics of the hackathon.
China is now far ahead of other wealthy nations in CBDC research since it has already begun conducting extensive testing. Others, in contrast, are still engaged in various phases of CBDC research.
