Global payments solutions provider Ripple has joined efforts to roll out a central bank digital currency (CBDC) in the United Kingdom.
Ripple said it would join the non-profit Digital Pound Foundation which focuses on the development and implementation of a digital pound as a Foundation member. It will be represented by Head of Policy Susan Friedman.
The company said it believes that the UK has been at the forefront of growth in the crypto-asset space and that the foundation will help in efforts to advance the UK’s goal to build a more inclusive and sustainable financial system.
Ripple said the digital pound would boost UK efforts to shift into an innovative digital economy and society, as a CBDC will ensure the UK’s place in the emerging global digital landscape.
Ripple last month said it partnered with Bhutan’s central bank, the Royal Monetary Authority, to establish retail, cross-border and wholesale payment use cases.