To improve the country’s high-value payment system, Colombia’s central bank is experimenting with Ripple’s new end-to-end central bank digital currency technology. How will this collaboration affect the price of XRP? On Thursday, Ripple announced that the central bank of Colombia and the Ministry of Information and Communication Technologies (MinTIC) would be exploring the use of blockchain technology in the country’s high value electronic payment system with Ripple. The central bank did not specifically state it will pilot test a central bank digital currency, even though it will employ Ripple’s CBDC platform, supported by a private version of the XRP Ledger. Ripple and @Peersyst are partnering with Colombia’s @BancoRepublica in conjunction with @Ministerio_TIC to pilot use cases that will enhance Colombia’s high-value payment system.
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