General manager of RippleNet: Central banks won’t adopt the XRP Ledger overnight, so… waiting!

In a recent interview with Thinking Crypto, Asheesh Birla, General Manager (GM) of RippleNet, said that Ripple talked to central banks for a long time.


Asheesh Birla, RippleNet GM

Ripple has been talking to central banks for a long time, said RippleNet GM

Around March 2021, Ripple is testing a new private version of the XRP Ledger specifically designed to open central bank digital (CBDCs), which is based on the same blockchain technology as the original ledger game-changer.

Like the open-sourced version, the CBDC Private Ledger can issue digital assets of the likes of XRP that can be used for bridging different currencies. It can also facilitate payments. Ripple claims that the ledger will potentially handle up to hundreds of thousands of transactions per second.

And then, according to Birla, its speed of transaction makes it “a natural fit” for central bank digital currencies. “I think you are going to see more and more central banks around the world realize some of these benefits. Again, it’s not gonna happen overnight. We wanna build and gain momentum,” he stated.

In addition to CBDC, Ripple is also in discussions with banks about other technologies. Furthermore, in addition to discussing Rippe only, RippleNet GM also revealed his holding crypto portfolio.

“I’m super excited about a lot of different projects over the years, including Ripple, some web 3.0 projects, Filecoin, Ave, etc.”

As AZCoin News reported, as a part of its expansion in the APAC region, the company announces a new partnership. The US-based blockchain company announced a new partnership with Japan’s largest money transfer provider, SBI Remit, mobile payments service, and digital asset exchange platform SBI VC Trade to transform remittance payments from Japan to the Philippines.

According to the company’s announcement, due to growing e-Commerce clout, increasingly mobile populations, and rising clarity around cryptocurrency regulations, Asia Pacific is one of the fastest-growing regions for Ripple, with transactions growing 130% year-over-year.

While not suffering any setbacks in the APAC region, the US Securities and Exchange Commission (SEC) filed against the company last December, alleging that its sale of XRP was unregistered security offering worth more than $1.38 billion, only affected activity in the US. At the moment, the XRP price is trading at $0.702, recording a 20% gain over the past seven days.

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