Ripple launches platform for CBDC development

XRP issuer Ripple is gaining momentum. The company announced its own CBDC platform and the acquisition of Swiss crypto custodian Metaco.

Ripple is launching a central bank digital currency (CBDC) platform that will allow central banks, governments and financial institutions to issue their own digital currencies. This is stated in a press release of May 18.

Through Ripple's platform, government agencies can manage and customize the entire CBDC lifecycle. Including the creation, distribution, redemption and destruction (bursting) of tokens.

The company also announced a new tokenization service for real estate as part of the Hong Kong Monetary Authority's e-HKD pilot. On May 17, Ripple announced the acquisition of Swiss crypto custodian Metaco for $250 million.

The company also scored a partial victory in court this week in its legal dispute with the U.S. Securities and Exchange Commission (SEC). The motion of the SEC to keep the "Hinman documents" relevant to the lawsuit secret was not granted.

The announcements had a positive effect on the price of XRP. At the time of writing, the coin is trading at $0.4661. With that, it gained 7.1 percent over the past seven days.