Banque de France, the central bank of France, has reportedly discussed XRP and Ripple for the launch of a central bank digital currency (CBDC). The central bank is planning to prefer XRP over Bitcoin and Ethereum.
According to a report published by CPA Australia, Ripple and XRP gained the attention of many central banks around the world due to the centralized nature of the network. In addition, the report highlighted the efforts made by the Reserve Bank of Australia, ECB, PBOC and the Federal Reserve in the issuance of a central bank digital currency.
Ripple recently announced that the company is currently testing a private version of the XRP Ledger to facilitate global central banks in the issuance and management of CBDCs. Further, the company mentioned the arrival of the world’s first CBDC is inevitable.