Central Bank Digital Currency Platform

Digital Asset Management

Project Scope



Enterprise product to transact CBDCs

I was a part of the core team that started a platform for transacting CBDCs. A central bank digital currency (CBDC) is the digital form of a country’s fiat currency, which is regulated by its central bank. 

How can we easily mint, manage and transact CBDCs?

The main challenge of the project was to create a product from scratch in the new innovative space. There were no examples back than to take inspiration from because not many CBDC platforms existed. It was exciting to work on the product in a new industry and explore diffrent design solutions.

The new product was launched and users are able to accelerate their payments and reduce costs

Enable wholesale and retail use cases by supporting a variety of participants including banks, fintechs, and members of the public.


1. Project requirement gathering

2. Competitor analysis

3. User flow creation

4. Wireframing

5. Hi-Fi design and prototyping

How the CBDC platform works

The individual CBDC Platform components include:

Issuer: Enabling issuers (e.g., central banks, monetary authorities or commercial banks) to manage the full lifecycle of their fiat based digital currency—from minting and distribution all the way to redemption and destruction—in a highly secure manner, taking advantage of the XRP Ledger’s built-in multi-signing capabilities.

Operator: This allows participants (commercial banks or non-bank financial institutions) who are holding significant amounts of the digital currency to manage and participate in inter-institutional settlement and distribution functions. The Operator allows participants (like commercial banks) to manage their digital currency holdings.

End User Wallets: Corporates and retail users who hold and use digital currencies will utilize wallets to manage their money, send and receive and pay for goods and services using their wallet.

Ledger: CBDCs use the Ledger component to record and provide settlement functionality. This Ledger enables the innovation of money through programmability and robust controls that central banks and monetary authorities require.

Project mentioned in:

As a result, Ripple was able to collaborate with Colombia, Bhutan, Montenegro, and Pulau. All confirmed to have been working on CBDC pilots with Ripple.