Blockchain provider Ripple has announced its partnership with the Central Bank of Montenegro (CBCG) to develop a pilot program for a Central Bank Digital Currency (CBDC). According to Ripple, the CBCG will work with the blockchain provider to identify the practical application of a national stablecoin and design a simulation of its circulation.
Governor Radoje Zugic of the CBCG stated that the project will analyze the advantages and risks that CBDCs could pose to the availability, security, efficiency, compliance with regulations, and protection of end-users’ rights and privacy.
With over 100 countries exploring CBDC development, Montenegro, as a member of the European Union and part of the eurozone, would see the adoption of a digital euro if the European Central Bank decides to introduce one later this year.
