Ripple is starting a central bank digital currency (CBDC) platform which allows central banks, governments, and financial institutions to issue their digital currency. Financial institutions would also be able to manage and participate in inter-institutional settlement and distribution functions using the CBDC. Central banks can issue both wholesale and retail CBDCs, which can make offline transactions as well. The platform is an enhanced version of Ripple's Private Ledger, which was started in 2021 for issuing CBDCs. The platform is powered by the XRP Ledger but was built on a new private ledger.
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