Montenegro Collaborates with Ripple to Create Its Own Digital Currency
Montenegro is teaming up with Ripple, a US-based cryptocurrency company, to create its own digital currency. Despite adopting the euro, Montenegro plans to launch a “national stablecoin,” with the aim of providing greater financial accessibility to its citizens.
Over 100 countries are already exploring or developing their own central bank digital currencies, including major economies like China. Montenegro is not yet a member of the EU or the eurozone and is not part of the digital euro process. The Central Bank of Montenegro will work with Ripple, the Montenegrin government, and academia to create a secure digital currency that considers users’ privacy rights and protection.
The Montenegrin digital currency project will go through several stages, with a simulation of its circulation and use under controlled conditions.
Clever Robot News Desk 18th April 2023