Ripple is recognized as a leader in the CBDC space

Ripple CBDC advisor Anthony WELFARE revealed in a tweet yesterday that the Silicon Valley tech company has been recognized as a leader in central bank digital currencies (CBDCs). Ripple is considered a recognized leader for several reasons, including the company's existing success with RippleNet, Ripple's technological capabilities in the CBDC space, its existing deployments, and growth in the emerging space.

According to a Juniper Research report, the value of CBDC payments is expected to rise to $213 bln per year by 2030. This is a huge jump from the current annual growth of $100 mln. Juniper Research noted that annual payments through CBDCs have been relatively low, as CBDC adoption is currently limited to pilot projects.

As previously reported, the Central Bank of Montenegro, in partnership with Ripple, has developed a pilot program for Montenegro's digital currency. Similarly, Ripple has partnered with the central banks of Palau and Bhutan to set up various CBDC pilot projects. Earlier this year, Welfare revealed that Ripple is partnering with more than 20 countries to develop CBDCs.

Image: CoinMarketCap