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Colombia’s Central Bank Partners with Ripple to Explore Blockchain Use Cases

Colombia's central bank, Banco de la República, has partnered with blockchain firm Ripple to explore the use of blockchain technology. According to Ripple, Banco de la República, in conjunction with the Ministry for Information and Communications Technologies (MinTIC), will pilot Ripple's CBDC platform to improve its high-value payments system. Ripple said that its CBDC platform “will be experimented and tested in a controlled environment without compromising public resources.” “Potential efficiencies can be evaluated through the results obtained in the development of a solution with blockchain technology, Mauricio Lizcano, said in a statement.

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