Swiss Central Bank Denies Using XRP for CBDC Settlements
The XRP community has been buzzing with claims that the Swiss Central Bank is using XRP as a settlement token through the R3 network. However, experts have debunked this rumor, stating that it is false and misinformed. Moonchaser, a respected figure within the community, clarified that R3’s Corda platform does not use XRP or the XRPL for settlements. Instead, R3 utilizes its own proprietary XDC token as their primary settlement token.
Moonchaser also highlighted the historical context of R3’s partnership with Ripple, which was only a proof of concept and did not come to fruition due to litigation. She emphasized the involvement of SBI Group, a stakeholder in both R3 and Ripple, and explained that SBI Ripple Asia and SBI R3 Japan are collaborative entities aiming to foster Corda licenses and initiatives.
The community influencer Wrathof Kahneman noted that the Corda Settler product, which used XRP as a settlement example, has been deprecated as they develop a new Corda SDK.
Price Update: XRP Falls Amidst Rumors
At present, XRP is trading at $0.48931 and has experienced a 1.5% decrease in the last 24 hours. The price fell more than 6% after dropping below the 200-day EMA on Sunday.
Hot Take: Rumors of XRP’s Role in Swiss CBDC Put to Rest
The recent claims about the Swiss Central Bank using XRP as a settlement token through the R3 network have been debunked by experts. Moonchaser, a respected member of the XRP community, clarified that R3’s Corda platform does not utilize XRP or the XRPL for settlements. The involvement of SBI Group, a stakeholder in both R3 and Ripple, was also emphasized. While there were past partnerships between R3 and Ripple, they did not result in the use of XRP for settlements. Therefore, the rumors circulating in the XRP community regarding its role in the Swiss CBDC are unfounded.
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