Ripple Lands Two Awards for Fintech and CBDC Innovation

Blockchain startup Ripple recently won two prestigious awards at the Future Digital Awards for Fintech & Payments 2023

The San Francisco-based blockchain startup has scored another win, adding its recent legal success against the United States Securities and Exchange Commission (SEC). This time, the victory is outside of the legal courts, with Ripple winning two awards at the Future Digital Awards for Fintech and Payments 2023.

Organized by Juniper Research, the award recognizes companies contributing to the future of fintech and digital payments, a niche where Ripple’s technology is hugely beneficial. Other leading companies such as Amazon, IBM, and Stripe have featured as winners in previous Future Digital Award events, making it a prestigious event.

Following a rigorous selection process at this year’s awards, Ripple landed two awards, namely: Sustainability in Fintech Innovation of the Year, Platinum Award, and Platinum Award for CBDC Innovation. Notably, Ripple and embedded payments solution Marqeta are the only companies to claim more than a single prize at this year’s awards.

Ripple Recognized for Payments and CBDC Innovation

Juniper’s latest awards recognized Ripple’s contributions to building sustainable payment solutions. Specifically, Ripple won the award due to its U.S. Dollar-backed Palau Stablecoin (PSC). Running on the carbon-neutral XRP Ledger means the stablecoin is highly sustainable while offering additional benefits such as privacy, near-instant settlements, and cheap transfer fees.

Meanwhile, the CBDC Innovation Award acknowledged Ripple’s innovation in the field of tokenized digital currencies. Announced in May, Ripple’s CBDC platform allows central banks and governments to issue their own digital currencies. The solution has already been muted for adoption in CBDC pilot projects in Colombia, Hong Kong, and Montenegro.

Industry recognition, especially for CBDC development, is not a new feat for Ripple. Back in July, The Crypto Basic reported that Ripple won its first CBDC Award as the best sustainability initiative for digital currency.

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