Ripple Partners With DEA To Make Digital Money

Ripple partners with the Digital Euro Association (photo: Unsplash)

JAKARTA – Ripple (XRP) is reportedly partnering with the Digital Euro Association (DEA). This collaboration is aimed at developing a central bank digital currency or CBDC.

According to TheDailyHodl, the DEA, based in Frankfurt, Germany, is a research forum focused on developing CBDCs, stablecoins, crypto assets, and various other digital currencies.

The organization aims to influence CBDCs and crypto-related policies through research and provide a platform for policymakers, technologists, and economists to discuss digital assets.

In the announcement, Ripple acted as a leader in its field but did not provide exact details on what would happen in the partnership with the DEA.

“Ripple, one of the leading providers of blockchain solutions and crypto companies for cross-border payments, recently developed a blockchain-based infrastructure to support CBDCs and engaged with the central bank of Bhutan, among others, to help implement their CBDC pilot.”

For information, Ripple has collaborated with various banks in the world for fast payments between countries. Even so, Ripple is still stumbling into a feud with the US Securities and Exchange Commission to this day.

“Ripple is also a member of the Digital Pound Foundation and continues to expand its efforts around CBDCs around the world. DEA's partnership with Ripple includes, among other things, joint educational efforts around digital currencies and knowledge exchange."

The partnership was welcomed by DEA Chairman Jonas Gross, who expressed his pleasure at working with Ripple.

“We are excited that by partnering with Ripple, we can expand the technology expertise of the DEA community. As more and more CBDC projects around the world reach advanced stages, CBDC technology design will play a key role for policy makers in the near future, while previous years have focused primarily on research,” added Gross.

Ripple also posted a Twitter post about its partnership with DEA to its followers and said it was part of its overarching goal of providing CBDC-related solutions on a global scale.

“We are delighted to join the Digital Euro Association as a supporting partner to further develop our work with CBDC! This is one part of our larger goal of developing and delivering global solutions for CBDCs and stablecoins through our blockchain and crypto expertise.”