Since 2021, Ripple has participated in several joint experiments with various countries in the field of CBDC. The firm's partners included Palau, Montenegro, Bhutan, Georgia, and the United Kingdom.

According to Welfare, these practical studies have significantly influenced the development of the XRP Ledger (XRPL) network, both from Ripple and its ecosystem partners. The experiments also drew the company's attention to stablecoins and helped prepare for their current exponential growth phase.

In 2023, the firm introduced a platform based on XRPL designed for the issuance of central bank digital currencies and "stablecoins."

"Now we just need to focus on interoperability — CBDC, stablecoins, tokenized deposits, etc. — they all need to work together to make it easy for people and businesses to use them," Welfare emphasized.