Colombia’s Central Bank Partners With Ripple
BOGOTÁ, CO – Colombia’s central bank, Banco de la República has inked a partnership with Ripple to integrate blockchain technology into its services. The integration is part of a larger blockchain experimentation phase conducted by the Ministry for Information and Communications Technology (MinTIC).
The collaboration will pilot Ripple’s CBDC platform to enhance the country’s high-value payments system within a controlled environment. The bank seeks to evaluate the efficiency gains and transformative possibilities offered by blockchain technology and assess how it can enhance existing processes within financial entities.
