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RIPPLE: Innovation in Central Bank Digital Currencies
Feb 27, 2023
March 01, 2023
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According to recent research from the Atlantic Council Tracker, the majority of the world’s Central Banks are seriously considering Central Bank Digital Currencies, with many projects already underway.

While the facts indicate that planning for and testing of digital forms of national currency are underway, actual implementation often lags behind due to lack of experience, understanding of use cases and specific applications.

In order to foster innovation and drive the development of CBDC applications, Ripple sponsored a CBDC Innovate Challenge in 2022. Enterprise and individual developers were encouraged to enter the challenge and develop CBDC applications using Ripple’s technology, in three categories:

  • Retail
  • Interoperability 
  • Financial Inclusion

The CBDC Innovate Challenge closed with a total of six winners (two from each category) at the end of 2022. The enthusiasm among developers surrounding the challenge was strong and Ripple received almost 500 entries.

CBDCs are Ideal for Innovation

Well-designed CBDCs, backed by the safety of Central Bank Reserves and country regulations, offer not only a secure and reliable means of performing digital transactions, they can also help to solve some of the world’s biggest challenges including financial inclusion and sustainability. 

With CBDCs, payments can be accelerated, banking and third-party transaction fees can be lowered and the environmental burdens of printing fiat currency—using paper and significant energy resources—can be eliminated. 

Jose Jesus Perez Aguinaga, conFIEL founder and CBDC Innovate winner highlights how CBDCs can be a stable, beneficial, and positive force for people around the world, stating that “with the adequate technology and controls in place, CBDCs can actually bring financial freedom to individuals.” 

For the Innovate Challenge, conFIEL developed a unique localized application, designed to be used by the Central Bank of Mexico. conFIEL explored building a retail CBDC on top of the XRP Ledger for Mexico’s Central Bank (Banxico) using SAT (Mexican tax authority) digital signatures called FIEL (or e.Firma). The use of the digital signatures verifies the identity of the users, thereby helping to prevent fraud and theft.

conFIEL is just one of the winning CBDC Innovate projects showcasing how CBDCs can be used to promote financial inclusion and fast, accelerated payments.

Powering Next-Gen Financial Services with CBDCs

CBDCs are uniquely positioned to drive innovation within the financial services industry and in other adjacent ecosystems. 

Community Loans enables users to give out and take uncollateralized loans in a peer-to-peer manner, incorporating a unique reputation-based system to establish trust. In his entry for CBDC InnovateCommunity Loans developer Rahim Klaber, “tried to think about how users would interact with the application and what I would need from the users and went from there. Using CBDCs means that the users are (hopefully) already KYCed and handling fraud could also be simplified.” 

Rahim believes that CBDCs are an ideal platform for innovation thanks to their ability to be backed specifically by a nation’s central bank, and their ability to enable easier-to-build, interoperable financial systems.

Ripple’s CBDC Innovate Challenge aims to help drive accessibility to CBDCs as a platform for innovation within payments and financial services, with CBDCs acting as a gateway for individuals into different areas of web3. 

One example is the PeerPay app, created by CBDC Innovate winner Nestor Campos Rojas. PeerPay offers the unique ability to transact payments with a variety of digital assets. PeerPay is a payment system that allows anyone to transact money, send and receive different assets, see transfers, and manage an agenda of recipients. Nestor created PeerPay because he “believes that the future of payments has to be inclusive and interoperable.” 

CBDC Payment and Interoperability Apps

Two other specific entities to highlight from the CBDC Innovate Challenge include SpendTheBits and Checksum. Both applications provide a solution to enable CBDCs to work as a functional bridge between other digital assets.

“CBDCs hold great potential to revolutionize finance with impacts such as financial inclusion, reduced friction, near-instant settlement times, interoperability, and integration with enterprise and retail applications,” says SpendTheBits founder Jay Kambo, who conceptualized the project by leveraging a central bank monetary framework and perspective.

SpendTheBits (STB) is an application that allows retail users to make payments in multiple currencies including CBDCs, cryptocurrencies, and stablecoins. With SpendTheBits secure, interoperable payments can be made in seconds rather than days. The SpendTheBits application incorporates a CBDC Portal, the STB Mobile and Merchant App, and STB Exchange Portal to allow interoperability and liquidity. 

Checksum, developed by whirledlabs, specifically takes on a business-facing perspective with advanced payment features and user interface that enables enterprises to easily process checks, invoices, expenses, and payroll for B2B CBDC management. Ryan Molley from Checksum describes his experience with CBDC Innovate: “This was a tough challenge that attracted many skilled developers and interesting projects. The future is bright for the XRP Ledger. We are honored to have been selected as the Retail-facing Enterprise winner after two competitive phases. It is encouraging to see industry professionals considering innovative solutions to solve real-world problems.” 

A New Way to Fund Loans Using Digital Currency

The P2P Loans app (aka P2P-CBDC) offers the capability to provide loans for anyone with an XRP Ledger account. P2P CBDC is decentralized, open-source, fast, simple, and low-cost, making it accessible to anyone around the world. 

Chris Winkler, creator of P2P-CBDC shared his thought process in formulating his app: “For the 2022 CBDC Innovate challenge, we combined the unmet needs of people that don’t have access to financial services—like loans—with the global development of fast, secure and more accessible CBDCs. That’s when the fusion of our idea of P2P-loans with CBDCs on the XRP Ledger was born. The XRPL and its outstanding technology enables us to empower people to transform their lives by providing them with the exact financial services they need.” 

Creating New Opportunities in the Digital Asset Ecosystem

The financial ecosystem is ripe for change and innovation, with digital assets presenting a whole new world of transactions conducted between governments, institutions, and individuals on a daily basis. As such, CBDCs can help facilitate innovation through public and private sector initiatives to help encourage more widespread development and interest. 

CBDC Innovate will be returning in Spring 2023. Look for updates on ripple.com/cbdc for details and how to enter the challenge.

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Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

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IXS, in partnership with OpenTrade, has launched the BlackRock High-Yield Corporate Bond Vault—bringing real-world bond yields to DeFi. Here’s why this is a game-changer:

🔹 Access BlackRock’s iShares 0–5 Year High Yield Corporate Bond ETF (SHYG) on-chain
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🔹 Brings institutional-grade fixed income directly to on-chain capital

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https://www.ixs.finance/news/ixs-launches-blackrocks-high-yield-corporate-bond-vault

https://coinmarketcap.com/currencies/ix-swap/

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16:45 - Are fairies and gnomes real?
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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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🎬Proof the Deep State Planned This War for Years🎬
Nation First outlines how the Israeli attack on Iran was planned by the Deep State and the Military Industrial Complex over 15 years ago.

Prepare to have your mind blown

~Namasté 🙏 Crypto Michael ⚡ The Dinarian

Dear friend,

What just happened in Iran wasn’t a surprise attack. It wasn’t a last-minute decision. It wasn’t even Israel acting alone.

It was a war plan written years ago — by men in suits, sitting in think tanks in Washington and New York. And yesterday, that plan was finally put into action.

Here’s the truth they don’t want you to know: this war was cooked up long before Trump ever became President — and it was designed to happen exactly this way.

Let’s start with what just happened.

Israel launched a massive, unexpected strike on Iran. They hit nuclear facilities. They killed military generals. They struck deep inside Iranian territory — and now the whole region is on edge, ready to explode into full-blown war.

The media is acting shocked. But I’m not. You shouldn’t be either.

Why?

Because we have the documents. They told us this was coming. Years ago.

Exhibit A: The Brookings Institution.

The Brooking Institution is a fancy name for what’s basically a war-planning factory dressed up as a research centre. Back in 2009, Brookings published a report called Which Path to Persia?

It laid out exactly how to get the U.S. into a war with Iran — without looking like the bad guy.

Here’s the sickest part:

“The United States would encourage — and perhaps even assist — the Israelis in conducting the strikes… in the expectation that both international criticism and Iranian retaliation would be deflected away from the United States and onto Israel.”

Let that sink in.

They literally suggested using Israel to start the war, so America could stand back and say, “Wasn’t us!”

They even titled a chapter of this report: “Leave It to Bibi” — naming Netanyahu as the guy to light the match.

Exhibit B: The Council on Foreign Relations (CFR).

The Council on Foreign Relations is an another Deep State operation. Also in 2009, CFR published a “contingency memothat laid out the whole military plan for an Israeli strike on Iran — step by step.

  • What routes the jets would fly (over Jordan and Iraq).

  • What bombs they’d use (the biggest bunker-busters in the U.S. arsenal).

  • Which Iranian sites to hit (Natanz, Arak, Esfahan).

  • And how Iran might respond (missiles, drones, threats to U.S. bases).

It’s like they had a time machine. Because those exact strikes just happened following the routes, likely using the bombs and hitting the sites that the CFR outlined.

Exhibit C: The Plot to Attack Iran by Dan Kovalik.

This one really blows the lid off.

US human rights lawyer and journalist Dan Kovalik, in his book The Plot to Attack Iran: How the CIA and the Deep State Have Conspired to Vilify Iran, shows how the CIA and Israel’s Mossad have been working together for decades — not just watching Iran, but actively sabotaging it. Killing scientists. Running cyberattacks. Feeding lies to the media to make Iran look like it’s always “six months away” from building a nuke.

He even reveals how they discussed false flag attacks — faking an Iranian strike to justify going to war. That’s not a conspiracy theory. That’s documented strategy.

And here’s where President Trump comes in.

Unlike the warmongers who wrote these plans, Trump wasn’t looking to bomb Iran. He wanted to talk. Negotiate. Make a deal — like he did with North Korea.

In fact, peace talks with Iran were just days away.

But someone didn’t want peace. Someone wanted war.

So Israel went in — just like the Brookings script said — and lit the fuse.

Trump didn’t authorise it. He didn’t want it. But they gazumped him. They went around him. And now, the peace he was trying to build has been blown to bits.

This was never about Iran being a threat. It was about keeping the war machine fed.

Think tanks, defence contractors, foreign lobbies — they don’t profit from peace. They thrive on tension. On fear. On war.

And now, thanks to them, the world’s one step closer to the edge.

If you’ve never trusted the mainstream media, you’re right not to.

If you’ve ever suspected there’s a shadowy agenda behind every war, you’re not paranoid.

You’re paying attention.

Because the documents are real. The war was planned. And the bombs are falling — right on schedule.

Pray for Iran’s civilians.

Pray for the Israelis caught in the crossfire.

Pray for a President who still wants peace.

And pray that we wake up before it’s too late.

Because the war has started.

But the truth has just begun to spread.

Until next time, God bless you, your family and nation.

Take care,

George Christensen

Source:

George Christensen is a former Australian politician, a Christian, freedom lover, conservative, blogger, podcaster, journalist and theologian. He has been feted by the Epoch Times as a “champion of human rights” and his writings have been praised by Infowars’ Alex Jones as “excellent and informative”.

George believes Nation First will be an essential part of the ongoing fight for freedom:

The time is now for every proud patriot to step to the fore and fight for our freedom, sovereignty and way of life. Information is a key tool in any battle and the Nation First newsletter will be a valuable tool in the battle for the future of the West.

— George Christensen.

Find more about George at his www.georgechristensen.com.au website.

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The Possible Impact Of USDC On The XRP Ledger And RLUSD
Key Points
  • It seems likely that USDC on the XRP Ledger (XRPL) boosts liquidity, benefiting XRP, though some see it as competition for RLUSD.
  • Research suggests both stablecoins can coexist, enhancing the XRPL ecosystem.
  • The evidence leans toward increased network activity being good for XRP, despite potential competition.

The recent launch of USDC on the XRP Ledger has sparked discussions about its impact on the ecosystem, particularly in relation to RLUSD, Ripple's own stablecoin. This response explores whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Impact on Liquidity and XRP

The introduction of USDC, a major stablecoin with a $61 billion market cap, likely increases liquidity on the XRPL by attracting more users, developers, and institutions. This boost can enhance DeFi applications and enterprise payments, potentially driving demand for XRP, the native token used for transaction fees. While some may view it as competition for RLUSD, the overall effect seems positive for the XRPL's growth.
 

Competition vs. Coexistence with RLUSD

USDC and RLUSD cater to different needs: USDC appeals to those valuing regulatory compliance, while RLUSD, backed by Ripple, may attract users preferring ecosystem integration. Research suggests both can coexist, increasing options and fostering innovation, rather than purely competing.
 

Detailed Analysis of USDC on XRPL and Its Implications

The integration of USDC on the XRP Ledger (XRPL), announced on June 12, 2025, by Circle, has significant implications for the ecosystem, particularly in relation to RLUSD, Ripple's stablecoin launched in 2024. This section provides a comprehensive analysis, exploring whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Understanding RLUSD and Its Role

RLUSD, Ripple's stablecoin, received approval from the New York Department of Financial Services (NYDFS) in 2024 and is designed to be fully backed by cash and cash equivalents, ensuring stability. It is available on both the Ethereum and XRP Ledger blockchains, aiming to enhance liquidity, reduce volatility, and serve cross-border payments. With a current market cap of $413 million, RLUSD is smaller than USDC's $61 billion but has regulatory credibility, particularly appealing to institutions.
 

Impact of USDC on the XRPL

The launch of USDC on the XRPL is a significant development, given its status as the second-largest stablecoin by market cap.
 
Key impacts include:
  • Liquidity Boost: USDC's integration can attract more users, developers, and institutions, increasing overall liquidity. This is crucial for DeFi applications, as Circle's announcement emphasizes its use in liquidity provisioning for token pairs and FX flows.
  • Increased Utility: USDC enhances the XRPL's utility for enterprise payments, financial infrastructure, and DeFi, potentially making it more attractive for global money movement and transparent settlements.
  • Regulatory and Institutional Appeal: As a regulated stablecoin issued by Circle, USDC can bring institutional users to the XRPL, aligning with Ripple's goals for regulated financial activities.
  • Network Growth: Supporting a widely recognized stablecoin like USDC on 22 blockchains, including the XRPL, increases the network's visibility and adoption, potentially driving more activity.

Competition vs. Complementarity with RLUSD

While USDC's launch could be seen as competition for RLUSD, the evidence suggests a more nuanced relationship:
  • Competition: Both are stablecoins on the XRPL, and USDC's larger market presence ($61 billion vs. RLUSD's $413 million) might attract users and developers away from RLUSD. However, competition can drive innovation, such as lower fees or better services, benefiting the ecosystem
  • Complementarity: Different stablecoins cater to different needs. USDC appeals to users valuing regulatory compliance and widespread adoption across multiple blockchains, while RLUSD, backed by Ripple, may attract those preferring ecosystem integration and regulatory approval from NYDFS. The XRPL can benefit from having multiple options, increasing liquidity and fostering a diverse ecosystem.
  • Coexistence Benefits: Research suggests that having multiple stablecoins enhances liquidity and provides users with more choices, potentially leading to higher network activity. For example, institutions might use USDC for global payments and RLUSD for specific XRPL-integrated applications, creating a symbiotic relationships.

Impact on XRP

The introduction of USDC, alongside RLUSD, is likely beneficial for XRP, the native token of the XRPL, for several reasons:
  • Increased Liquidity and Activity: Higher liquidity on the XRPL, driven by both stablecoins, can increase transaction volumes. XRP is used for transaction fees, with some fees burned, potentially reducing supply over time and increasing demand.
  • DeFi and Enterprise Use Cases: Both USDC and RLUSD enhance DeFi and enterprise applications, such as liquidity pools and cross-border payments, which can drive demand for XRP as a settlement token.
  • Network Growth: A more liquid and active XRPL is more attractive to developers and users, potentially leading to long-term growth for XRP, as increased utility can drive its value.
Expert analyses, such as those from u.today and ledgerinsights.com, suggest the launch is a "massive boost" for liquidity and adoption, with RLUSD also playing a significant role.
 

Comparative Analysis: USDC vs. RLUSD

To further illustrate, consider the following table comparing key attributes:
 
Given the evidence, it is more accurate to view the introduction of USDC on the XRPL as beneficial for liquidity, which is ultimately good for XRP, rather than solely as competition for RLUSD. The XRPL benefits from increased options, with both stablecoins enhancing liquidity, utility, and network growth. While some competition exists, the overall impact is positive, fostering a robust ecosystem that can drive demand for XRP. This conclusion aligns with expert analyses and community discussions, acknowledging the complexity of the stablecoin market within the XRPL.
 

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