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🇬🇧 United Kingdom explores Ripple technology for international payments 🌍
The Bank of England (BoE) has been testing Ripple's Interledger Protocol to improve cross-border payment settlement. Its goal is to make payments more efficient and reduce costs by synchronizing transactions across different financial systems.
🔹 Rosalind Project: In collaboration with the Bank for International Settlements, the BoE explored how to connect banks and businesses with digital currencies (CBDC).
🔹 Digital Pound Foundation: Ripple is participating in this initiative aimed at developing a digital pound in the United Kingdom.
🔹 British banks and Ripple: Institutions like Standard Chartered have been working with Ripple since 2016 on trade finance solutions.
The United Kingdom's interest in Ripple technology reflects the potential of blockchain to modernize payment systems.
💬 What other countries are following this path?
