Rumors are circulating that France’s Central Bank, Banque de France, is considering adopting XRP for its digital euro. While there has been no official announcement from the bank, it is not new to the blockchain and crypto space. The bank previously ran a pilot test of a Central Bank Digital Currency (CBDC) on a blockchain within the country’s debt market. It also explored the feasibility of using its CBDC for cross-border payments in collaboration with Swiss bank SEBA. In a 2016 research paper, the bank highlighted XRP’s potential to facilitate cross-border transactions using decentralized ledger technology. Ripple’s CEO, Brad Garlinghouse, has previously stated that XRP could become the next bitcoin if Ripple solves significant financial problems. Despite some analysts predicting a further decline in XRP’s price, several fundamentals could potentially boost the token’s value. Banks in Asia are already adopting XRP for cross-border payments, contributing to its impressive trading volume. Ripple’s legal battles with the SEC could also impact XRP’s adoption and price. However, the substance of the rumors regarding France’s adoption of XRP remains to be seen.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇯🇵 🇸🇬 🇫🇷 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Edward Farina, Brad Garlinghouse, Judge Analisa Torres, Monica Lang |
| Companies | Banque de France, SEBA, Judge Analisa Torres, SEC, Ripple |
| Currencies | XRP |
| Securities | None |
