Asheesh Birla Claims Ripple Won’t be Adopted by Central Banks Overnight

Sahaj  |  Jul 29, 2021

The General Manager of RippleNet, Asheesh Birla, has recently released a statement in an interview that says Ripple had been in talks with the central banks for a long time. It has been reported that the private firm based in San Francisco, had begun pitching a private version of the XRP Ledger to central banks.

Asheesh Birla Says Ripple in Talks With Central Banks For A Long Time

Asheesh Birla, RippleNet GM says that the speed of transaction of Ripple makes it a natural fit for the Central Bank Digital Currencies, CBDCs and said:

“I think you are going to see more and more central banks around the world realize some of these benefits. Again, it’s not gonna happen overnight. We wanna build and gain momentum.”

In accordance with Birla, Ripple is also in talks with the banks regarding other technologies.

Back in the month of March, Ripple was testing a new private version of the XRP Ledger, particularly designed to open CBDCs. 

In addition to this, Asheesh revealed his crypto holdings and stated:

“I’m super excited about a lot of different projects over the years, including Ripple, some web 3.0 projects, Filecoin, Ave, etc.”

Ripple XRP Makes Significant Gains as Company Expands

Ripple has recently made an announcement of the deployment of its RippleNet On-Demand Liquidity (ODL) service in order to improve cross-border remittances between Japan and the Philippines.

As a result of this, Ripple is up by over 11% in the past 24 hours and at the time of writing this article, it is being traded at $0.71.

Earlier this year, Ripple entered a partnership with the Novatti Group in order to improve remittances between Australia and the Philippines.

This clearly explains the strategy of the company to expand into the APAC region and expand cross-border payments using its ODL technology.

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