{"id":51212,"date":"2021-10-14T17:02:07","date_gmt":"2021-10-14T14:02:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51212"},"modified":"2025-09-02T22:26:42","modified_gmt":"2025-09-02T19:26:42","slug":"ripple-joins-uk-cbdc-research-initiative","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ripple-joins-uk-cbdc-research-initiative\/","title":{"rendered":"Ripple joins UK CBDC research initiative"},"content":{"rendered":"<p>The fintech company Ripple has become a co-founder of the nonprofit Digital Pound Foundation, a body aimed at facilitating the design and deployment of a central bank digital currency (CBDC) in the United Kingdom.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83c\uddec\ud83c\udde7We&#8217;re excited to be a founding member of <a href=\"https:\/\/twitter.com\/digitalpoundfdn?ref_src=twsrc%5Etfw\">@DigitalPoundFDN<\/a> to support the design and implementation of a digital\uffe1, with <a href=\"https:\/\/twitter.com\/ss_friedman?ref_src=twsrc%5Etfw\">@SS_Friedman<\/a>, our Head of Policy, joining the board.\ud83d\udcb7 <a href=\"https:\/\/t.co\/jPtV2apFls\">https:\/\/t.co\/jPtV2apFls<\/a><\/p>\n<p>\u2014 Ripple (@Ripple) <a href=\"https:\/\/twitter.com\/Ripple\/status\/1448621862540431371?ref_src=twsrc%5Etfw\">October 14, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>Apart from Ripple, co-founders and affiliated members of the foundation include Accenture, CGI Group, the blockchain developer Billon Group, and crypto projects Avalanche, Electroneum and Quant.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re excited to announce the launch of the <a href=\"https:\/\/twitter.com\/hashtag\/DigitalPoundFoundation?src=hash&#038;ref_src=twsrc%5Etfw\">#DigitalPoundFoundation<\/a> \u2014 an organisation that is helping to drive the implementation of a well-designed <a href=\"https:\/\/twitter.com\/hashtag\/DigitalPound?src=hash&#038;ref_src=twsrc%5Etfw\">#DigitalPound<\/a>: <a href=\"https:\/\/t.co\/MbieboIUDX\">https:\/\/t.co\/MbieboIUDX<\/a> <a href=\"https:\/\/t.co\/zhRhaQskwk\">pic.twitter.com\/zhRhaQskwk<\/a><\/p>\n<p>\u2014 Digital Pound Foundation (@digitalpoundfdn) <a href=\"https:\/\/twitter.com\/digitalpoundfdn\/status\/1448544158722011136?ref_src=twsrc%5Etfw\">October 14, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>The organisation is led by Jeremy Wilson, the former vice-chairman of Barclays and director of Nedbank Private Wealth International.<\/p>\n<p>Ripple\u2019s representative on the Digital Pound Foundation\u2019s board is the company\u2019s Head of Policy, Susan Friedman.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe Foundation will draw on the knowledge and experience of its members to conduct research, practical tests, and multi-stakeholder collaboration in the design, development, deployment and rollout of the digital pound as a means of ensuring the United Kingdom&#8217;s place in the evolving digital financial landscape,\u201d the press release said.<\/p>\n<\/blockquote>\n<p>They cite results from the Bank for International Settlements survey showing that 10% of central banks representing 20% of the world\u2019s population are likely to issue digital currencies within the next three years.<\/p>\n<p>In April 2021, the Bank of England and His Majesty&#8217;s Treasury <a href=\"https:\/\/u1f987.com\/en\/news\/uk-authorities-set-up-a-joint-working-group-to-study-cbdc\">formed a CBDC working group<\/a>.<\/p>\n<p>In September, the departments <a href=\"https:\/\/u1f987.com\/en\/news\/leaders-of-visa-paypal-and-google-to-help-uk-authorities-study-cbdc\">created two forums<\/a> with participation from Visa, Mastercard, SWIFT, PayPal, Google and others to study various aspects of launching the digital pound.<\/p>\n<p>Earlier this year, Ripple said <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-says-it-is-collaborating-with-central-banks-on-cbdc-development\">they were considering using the XRP Ledger as the basis for a CBDC<\/a> \u201cwith various central banks around the world.\u201d<\/p>\n<p>Later the company <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-to-pilot-private-version-of-xrp-ledger-for-cbdcs\">announced testing<\/a> a private version of its distributed ledger designed for these purposes.<\/p>\n<p>In September, Ripple <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-to-help-bhutan-test-cbdc\">became a partner<\/a> of the Royal Monetary Authority of Bhutan for a pilot test of the national digital currency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fintech company Ripple has become a co-founder of the nonprofit Digital Pound Foundation, a body aimed at facilitating the design and deployment of a central bank digital currency (CBDC) in the United Kingdom.<\/p>\n","protected":false},"author":1,"featured_media":51213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,112,810],"class_list":["post-51212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-ripple","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51212"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51212\/revisions"}],"predecessor-version":[{"id":51214,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51212\/revisions\/51214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51213"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}