France May Use Ripple's XRP for Digital Euro, According to Speculation

According to CryptoPotato, recent speculation suggests that France might use Ripple's native token, XRP, for its digital euro. This speculation is backed by positive references from Banque de France, the nation's central bank. Two years ago, the bank successfully used a central bank digital currency (CBDC) in a test environment and has previously praised Ripple and XRP in a paper discussing real-time settlement for banks using decentralized ledger technology.Banque de France specifically highlighted XRP's ability to be used as an intermediary asset to bridge any currency pair. The European Union (EU) has recently made significant progress towards launching a digital version of the euro, a controversial monetary product that has received support from some central bankers but has also faced criticism from certain cryptocurrency proponents who believe it could be used as a tool for surveillance.The Governing Council of the European Central Bank (ECB) recently moved the project to a 'preparation phase,' with an official launch expected in the coming years. France is not the only country that has reportedly considered using Ripple's native token in its CBDC efforts. Bhutan's central bank, the Royal Monetary Authority (RMA), partnered with the blockchain enterprise in 2021 to launch a digital version of its official currency, enhance digital and cross-border payments, and expand financial inclusion efforts.Additionally, Montenegro's central bank collaborated with Ripple earlier this year to develop a strategy for its CBDC and has contemplated using the company's assistance in introducing a stablecoin.