Ripple partners with Digital Pound Foundation for development of British CBDC

NEW DELHI: Blockchain-based company Ripple has officially partnered with an independent forum, Digital Pound Foundation (DPF) to explore the development and facilitate the roll out of British CBDC in the UK.

Besides Ripple, the fastest smart contract company, Avalanche is also coordinating with the DPF on the project.

Digital Pound Foundation is a nonprofit organisation, focused on the development of and implementation of a well-designed digital pound for Britain.

DPF was launched in June 2021 and proposed a model, where both public and private sectors could work together to enable UK’s transition to a digital economy.

The Foundation will carry out research and exploratory projects to roll out British CBDC.