The US will collaborate with Ripple to further explore the digital dollar project and create a technical sandbox.
The US aims to do more research by working with other blockchain firms alongside Ripple on its digital dollar project.
US Digital Dollar to Be Used Cross-Border First
The digital dollar project has become a hot topic for a long time. The first goal in the use of a central bank digital currency (CBDC) is to make cross-border payments. Cross-border payments will first begin in early October. The program will take place in two phases. The project is planned as a training and a pilot phase.
The statement on the subject stated as follows:
“It will be shared and used to inform private and public sector stakeholders on how evolving technical solutions can transform business value.
The Digital Dollar Project was created by information technology consulting firm Accenture and the Digital Dollar Foundation, a public education and advocacy group. In April, Depository Trust and Clearing Corporation, one of the largest financial services providers in the United States, partnered with the Digital Dollar Project. Project Lithium was launched to test the CBDC infrastructure as part of the partnership.
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