Status : Development
Usecase : Retail, Wholesale
The Central Bank of Montenegro is planning to collaborate with Ripple to develop a pilot program for a Central Bank Digital Currency (CBDC) in 2023. The focus of this project is to identify practical use cases for a retail CBDC and work with Ripple to design a simulation for circulation. The main objectives of this initiative are to analyze the potential risks and benefits of introducing a CBDC, assess its efficiency, ensure compliance with regulations, and protect users. The motivations behind this project include enhancing financial inclusion, modernizing monetary policy, improving payment security, and increasing the efficiency of cross-border payments. The information sources for this summary are the Atlantic Council Research and coindesk.com.
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