thenewscrypto.com
11 April 2023 10:57, UTC
The Central Bank of Montenegro (CBCG) has agreed to work with cryptocurrency and blockchain solutions provider Ripple to create a plan and pilot project to introduce the nation’s first digital currency in the form of a Central Bank Digital Currency (CBDC) or national stablecoin.
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Montenegrin Prime Minister Dritan Abazovic first announced the agreement between Ripple and Montenegro in a tweet on January 18, 2023, and then the agreement was signed on April 11, 2023. Despite not being a member of the Eurozone, the nation has been using the euro as its official currency since its introduction in 2002.
In today’s era, many significant countries are researching and developing a CBDC for a range of purposes, such as expanding financial markets. Including modernizing monetary policy, enhancing payment security, and boosting the effectiveness of the cross-border payments system.
Further, Ripple becomes the first platinum partner for 2023 at the Digital Monetary Institute Symposium. One of the most important gatherings of leaders in the central bank digital currency (CBDC) sector would take place every two years in London.
