A few months after consulting with Ripple, Brazil started thinking about its CBDC.
Brazil’s central bank is considering launching its Central Bank Digital Currency (CBDC), as stated in the latest news. This is happening a few months after consulting with Ripple. In May 2020, Ripple CEO Brad Garlinghouse held a meeting with the Brazilian Central Bank representatives, where “institutional issues” have been actively discussed.
The central bank of Brazil mentions on its website that it had a great conversation with the CEO of Ripple, during which President Roberto Campos Neto spoke with Garlinghouse and some other representatives of the firm. Although we don`t know exactly what they focused on during consultation, the banker’s briefly mentioned that the meeting was about “institutional issues.”
This can be Great News for XRP. If rumors come to be true, it can give great push to XRP and the price might start going up rapidly.
Ripple is one of the leaders in the cryptocurrency field, pushing for regulatory clarity from governments around the world. However, the fact still remains that regulators are not looking into separate cryptocurrencies and are dragging down all cryptocurrencies. Ripple has mentioned from the start that XRP is not meant to replace government currencies. The fintech giant has said it is willing to work with the government, without hiding behind the decentralized nature of the cryptocurrency, to keep XRP users anonymous.