Bhutan

Status : Development

Usecase : Retail, Wholesale

In September 2021, Ripple announced its partnership with the Royal Monetary Authority of Bhutan (RMA) to create the retail, wholesale and cross-border digital Ngultrum.The RMA hopes that a digital Ngultrum will accelerate its mission to increase financial inclusion in Bhutan to 85% by 2023.

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Relevant News

Ripple adviser teases ’more CBDC announcements in the next few weeks’

The blockchain company has been pushing hard into the CBDC space since piloting its CBDC Private Ledger aimed at central banks in March 2021.

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Ripple Labs Inc Floats CBDC Innovate Challenge

Digital currency payments company Ripple Labs Inc has announced a new hackathon dubbed the CBDC Innovate Challenge for developers who can build XRP Ledger-powered payment solutions bordering on Cen

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Ripple Labs to Provide Infrastructure for Establishing Bhutan’s Digital Ngultrum

Bhutan has tapped the services of blockchain payments firms Ripple Labs Inc to design its Central Bank Digital Currency (CBDC), the Digital Ngultrum.

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Ripple is helping Bhutan pilot a CBDC

The company claimed its CBDC solution would allow Bhutan’s central bank to deploy a digital ngultrum “without compromising financial stability or monetary policy objectives.”

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