Ripple Partners with Digital Euro Association

Today the Digital Euro Association (DEA) announced that it has partnered with crypto company Ripple. The two will work together on CBDCs, including facilitating knowledge exchange and driving educational efforts in respect of digital currencies.

The Frankfurt-based DEA is a think-tank whose stated mission is to “contribute to the public and political discourse through research, education, and by providing a platform and community for policy-makers, technologists, and economists to discuss digital money-related topics”.

Last July the European Central Bank (ECB) announced it was launching a digital euro project. According to the ECB, the project is still in the “investigation stage” which focuses on the functional design of a digital euro and how it would meet users’ needs.

While it’s not clear yet what the tech for a digital euro will look like, the current CBDC landscape is a patchwork of differing approaches. Some countries are exclusively using DLT, some more conventional technology, while others are using a combination of the two.

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Ripple and CBDCs

Ripple has been one of the more prominent blockchain companies working in the CBDC space so far. Bhutan and the Republic of Palau will both leverage a private version of the XRP ledger to build their national digital currencies. It’s also a member of the Digital Pound Foundation. The company currently employs around 40 people globally to work on CBDCs and stablecoins.