Ripple Becomes Premium Partner At London's Digital Monetary Institute Event

JAKARTA - The annual Global Digital Monetary Institute (DMI) symposium being held in London discussed the practical and theoretical aspects of digital currencies such as CBDCs and the future of financial markets.

The event, which was attended by 126 central banks, the US Treasury Department, and experts from the digital finance sector, has named Ripple as the sole "premium partner" for this year's symposium. Within minutes of this announcement, the price of XRP rose by 0.35 percent as reported by Coingape.

The annual symposium, which is scheduled to start on May 10 and will last for two days, is expected to attract the participation of around 40 speakers who are members of the OMFIF global community of public and private sector representatives. The speakers included the governors of the central banks of Israel, Ghana, and Italy, among others.

As one of the event's keynote speakers, Susan Friedman, currently Head of Public Policy at crypto firm Ripple, will be on hand to promote the company's vision for the larger fintech industry. This event is expected to be an important meeting around CBDC, regulation of money transfers, decentralized applications (DApps) in business, and other related topics.

Ripple has worked closely with some of the leading CBDC projects around the world, providing technical and research expertise. Recently, Ripple has also started working on other digital currency ideas including Euro, Pound, and others.

As previously reported on CoinGape, XRPL Ledger Ripple is getting its first USD stablecoin as a decentralized alternative to CBDC with Stably USD, which is represented by the ticker symbol USDS.

In response to this news, the XRP community and the broader crypto market have responded positively to this announcement, as market participants argue that it may result in a bullish scenario for XRP.

At the time of writing XRP is trading at a price of IDR 7,529. XRP's price performance has increased by 10.2 percent in the last two weeks. While in the last 24 hours, XRP fell 0.14 percent.