Arab Monetary Fund Pitches Decentralised Network RippleNet as CBDC Alternative

Arab Monetary Fund (AMF) has extended the use of RippleNet decentralised payments blockchain against the introduction of a CBDC. In a report, AMF claimed that CBDCs could endanger the existence and utility of fiat currencies. RippleNet’s native XRP cryptocurrency has been called unique as compared to other altcoins, that were created as ‘store-of-value' assets.