Ripple praises London’s digital currency approach, aims to expand presence in the region.
The Head of Policy at Ripple, Susan Friedman, recently shared that the company has high expectations for London, which is becoming a growing hub for digital currencies. Friedman explained the company’s interest in the region during an interview with the Digital Pound Foundation.
According to her, the UK government has a positive view and approach towards fintech, particularly in the area of Central Bank Digital Currencies (CBDCs). This has created a favorable environment for crypto businesses to thrive, as well as for the broader growth of crypto.
With this in mind, Friedman stated that Ripple is more convinced than ever about expanding its presence in London.
Ripple to Key into London’s CBDC Plan
She also spoke extensively about CBDCs, emphasizing that they represent a natural evolution of value exchange. Friedman believes that CBDCs can offer the same or even greater protections than traditional fiat currencies, and they may even address certain domestic challenges that traditional currencies cannot.
In her opinion, the key is to implement a comprehensive strategy that seamlessly integrates these digital currencies into global markets.
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Regarding digital currencies on a global scale, Friedman emphasized their numerous benefits, such as promoting financial inclusion for the unbanked, facilitating direct peer-to-peer payments, and fostering innovation, among others.
However, she acknowledged the complexities associated with digital currencies. For example, she highlighted the importance of financial stability when encouraging CBDC initiatives.
Nevertheless, Friedman stated that these complexities are being collectively addressed through the Digital Pound Foundation, of which Ripple is a founding member.
The foundation aims to ensure that all stakeholders conduct thorough research and work together before the digital pound is launched. This includes discussing proposals and exploring real-life use cases for a digital pound.