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XRP France has considered using Ripple and XRP for digital euros. The CPA Australia report shows that
While discussions between the government and the financial community about central bank digital currencies (CBDC) continue, an old document referring to Ripple and XRP has resurfaced and become the focus of debate on a potential platform for digital currencies in Europe.
CPA Australia regards Ripple and XRP as CBDC options
Cryptocurrency researcher SMQKE cited a report by CPA Australia on the X platform that mentioned that France had publicly discussed using Ripple and XRP as a possible basis for ECB digital currencies. The report points out that some specific features of Ripple technology are considered to have advantages over other blockchain platforms.
Thedocument mentioned that Ripple proposed to provide the central bank with a private version of the XRP Ledger, aiming to make the issuance and management of digital currencies more secure, controllable and flexible.
CPA Australia's report pointed out that "France has publicly discussed Ripple/XRP as a possible platform for ECB digital currencies" and emphasized that its beneficial characteristics include strong trust among banking institutions.
Comparison with Bitcoin and Ethereum
When comparing different technologies, the CPA Australia document notes that central banks may need permission-based blockchain networks to meet their requirements for privacy, transaction speed and scalability that public systems such as Bitcoin may not be able to meet. The report believes that unlicensed networks often have difficulty meeting the transaction volume and confidentiality standards required by CBDC.
According to CPA Australia, Ripple and XRP receive bank support because they operate on a permission-based model, with only selected nodes verifying transactions, in contrast to the decentralized, non-permission-based approach of Bitcoin and Ethereum.
Based on these views, SMQKE asserted that XRP demonstrated superior characteristics to Bitcoin and Ethereum when evaluating the applicability of projects such as the digital euro.
Platform Comparison Notes
The report also lists the comparison of different platforms in terms of bank applicability, transaction speed and privacy:
Ripple/XRP: Permissioned/private model, trusted by many banks, is fast and has strong privacy.
Bitcoin: Non-permissioned/public model, low bank applicability, slow speed, and weak privacy.
Ethereum: Non-permissioned/public model, low bank applicability, medium speed, and weak privacy.
The report also acknowledges that certain aspects of the public blockchain architecture may conflict with central bank requirements. However, the report points out that by adapting existing blockchain systems to enhance control, security and speed, the central bank can meet the technical needs of CBDC projects.
Community Reaction and Regulatory Background
SMQKE's post triggered a response within the XRP community. A well-known member, XRP Army Grunt, acknowledged that recent developments (such as Ripple Prime's participation in the launch of DTCC tokenization) showed real progress, but emphasized that there is currently no confirmation that XRP is used by DTCC and has not been officially selected for use in digital euros.
Another community member, Karla Milenia, turned her attention to the regulatory environment in the United States. She said that without U.S. lawmakers approving the CLARITY Act, adoption of cryptocurrencies in the United States may remain slow, while other regions continue to advance rapidly in digital asset regulation and CBDC development.
Community participants pointed out that although Ripple and XRP have been mentioned in reports and multiple projects, there has been no official decision to designate XRP as the platform of choice for digital euros.
