The Central Bank of Montenegro (CBCG) has partnered with Ripple to launch the country’s national digital currency.
Radoje Zugic, President of the Central Bank of Montenegro, made a statement on the subject: “As a central bank determined to follow current national banking trends, CBGC actively ensures the maintenance of an efficient financial system.”
The Project Will Go Through Many Testing Phases
The Central Bank of Montenegro has reached an agreement with Ripple to develop a strategy and pilot program to launch the digital currency.
The project, which will be developed in collaboration with the Central Bank of Montenegro and Ripple, will go through several stages to identify the practical application of the digital currency and simulate its circulation under controlled conditions.
Another name to comment on the subject was James Wallis, Ripple’s Vice President of central bank participations and CBDCs. “The Central Bank of Montenegro is bringing the next level of digital transformation to its financial infrastructure and is tackling some of the world’s biggest financial challenges, including financial inclusion,” Wallis said in a statement.
In the continuation of his speech, Wallis added that he is pleased that CBCG has partnered with Ripple to launch its first digital currency.
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