Ripple, a major player in the blockchain space, has undergone a significant strategic evolution, shifting its public focus from Central Bank Digital Currencies (CBDCs) to institutional-grade stablecoins and interoperability. While a recent website redesign hinted at a departure from CBDC initiatives, a former executive sheds light on how prior efforts in the CBDC realm were crucial for preparing the XRP Ledger (XRPL) for the burgeoning stablecoin market.
Ripple's Evolving Strategic Focus
Between 2021 and 2024, Ripple was deeply engaged in the CBDC landscape, forging partnerships with central banks in Bhutan, Palau, Montenegro, and Columbia for pilot programs, and launching a dedicated CBDC platform powered by the XRP Ledger. However, a February 2025 website overhaul conspicuously removed all mention of CBDCs, prompting speculation that Ripple was either scaling back these efforts or strategically maintaining a low profile amid growing anti-CBDC sentiment in the U.S.
The Foundational Value of CBDC Research
Former Ripple executive Anthony Welfare has clarified that this extensive CBDC work was far from fruitless. According to Welfare, these initiatives provided invaluable insights into central bank requirements and underscored the pivotal role of commercial banks, laying essential groundwork for the subsequent focus on stablecoins. This period of intense learning between 2021 and 2024 significantly impacted the development of the XRPL, both by Ripple and its wider partner ecosystem, effectively preparing it for the current global financial environment and the exponential rise of stablecoins.
Pioneering Stablecoins and Interoperability
Building on these learnings, Ripple has now pivoted its primary focus towards institutional-grade stablecoins and achieving seamless interoperability across various digital assets. In December 2024, the company launched its own stablecoin, Ripple USD (RLUSD), across both the XRP Ledger and Ethereum blockchains. The overarching strategy, as indicated by Welfare, is to foster an environment where CBDCs, stablecoins, and tokenized deposits can collaborate effortlessly, enhancing usability and integration within the broader digital economy.
