The central bank of France, Banque de France, has mentioned using XRP and Ripple for its new digital currency. The bank is planning to choose XRP over Ethereum or Bitcoin.
According to a report by CPA Australia, XRP and Ripple gained the bank’s attention, and many others, due to its efficient technology. In addition, the report stressed the efforts by the Reserve Bank of Australia, PBOC, ECB and the Fed in the release of a central digital currency.
The Ripple company recently said they are testing a private version of their ledger to aid central banks in the management and issuance of central bank digital currencies (CBDC). They also discussed the arrival of the first CBDC as undeniably coming soon.
“XRP and Ripple have banks’ trust as the model for CBDCs. Ripple also helps new currencies get created, and Ripple developers can choose the quantity and timing of supply in a way akin to traditional central bank processes,” the report states.
“Banque de France has talked about using XRP and Ripple as a potential platform for their new central digital currency,” the report said.
Despite an SEC lawsuit against Ripple in December of last year, the company had good growth over the past few weeks.
During his interview with reporters, Ripple CEO Brad Garlinghouse reported the activity of XRP liquidity has increased greatly outside the United States.
He went on to say that Ripple is gaining in Asia. XRP took a large hit after Ripple was sued by the SEC, but the digital currency has since grown by more than 100%. Despite the uneasiness about XRP in the States, the 7th largest digital currency is growing around the world. It currently claims a market cap of over $21 billion.