"Can this have a positive impact on Ripple?"
The Prime Minister of Montenegro Dritan Abazović signed an agreement with the Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse and its vice president James Wallis in implementing a central bank digital currency (CBDC).
Wallis, who has more experience in CBDC, has been the reason why the Prime Minister wants to work with them to develop the first CBDC or stablecoin for Montenegro.
Although the future potential of CBDC is unpredictable, Abazović still wants to implement it as Montenegro still does not have its own national currency.
This is because the Balkans, which consists of several parts including Montenegro, has been using the Euro as its national currency since 2002, but the fact is that Montenegro is neither part of the Eurozone nor a member of the European Union (EU).
Following that, the Montenegrin government has been taking steps to delve into the cryptocurrency market for months, where in April last year they held a panel titled Future Now! which was attended by the founder of Ethereum (ETH), Vitalik Buterin.
Please be informed that the project between Ripple and Abazović has not only been widely covered by local news channels but also by the international community.
In addition to developing the CBDC, Ripple is found to be the founder of the Digital Dollar Project and has joined the Digital Euro Association in February 2022.
