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Montenegro's Central Bank to test CBDC with Ripple

Montenegro’s Central Bank to test CBDC with Ripple.

The Central Bank of Montenegro (CBCG) has entered into a partnership agreement with Ripple to develop a pilot project for a central bank digital currency (CBDC).

The goal of the project is to analyze the practical application of digital currency or national stablecoins, as well as to develop a model for their circulation and use in controlled conditions.

The project “will analyze the advantages and risks that CBDCs or national stablecoins could pose concerning electronic means of payment availability, security, efficiency, compliance with regulations, and most importantly, the protection of end users’ rights and privacy,” said CBCG Governor Radoje Zugic.

Read the details at the link: https://www.finextra.com/newsarticle/42123/montenegro-taps-ripple-for-cbdc-pilot