Ripple Execs, Led By CEO Brad Garlinghouse, Meet With Central Bank Of Brazil Officials in ‘Closed to the Press' Meeting

Ripple Inc.’s, Brad Garlinghouse held a ‘closed to the press’ meeting with Brazil’s Central Bank officials on May 30th to discuss “institutional matters” in the South American country. Top officials from both Ripple and the Central Bank of Brazil held the meeting at 1700 hrs to 1800 hrs. What could be the motive behind the closed-door meeting?

Ripple Executives meet with the Central Bank of Brazil Officials

According to the Agenda of Authorities of Banco Central do Brasil website, the schedule of Roberto Campos Neto, the central bank’s president, showed he met online with Ripple executives on Saturday evening last week. While major details on the meeting remain unrevealed to the media, the agenda only hinted at “institutional matters”.

Three Ripple executives and board members accompanied CEO at Ripple Inc., Garlinghouse – Ben Lawsky, Member of the Board of Directors of Ripple, Eric van Miltemburg, Senior Vice President, Global Operations, Ripple, Luiz Antonio Sacco, Vice President of Global Operations and General Director for Latin America at Ripple.

Brazil’s central bank was led by Roberto joined by João Manoel Pinho de Mello, the Financial System Organization and Resolution Director, and Otavio Ribeiro Damaso, Regulation Director.

Both, Ripple and the Central bank of Brazil officials have remained silent on the conference discussions. Could the bank be looking at a possible central bank digital currency (CBDC) or settlement platform?

Brazil’s QR based instantaneous payment system

The most sensible explanation for the meeting may be to discuss the QR-based payment system that the central bank is developing. PIX, the non-crypto payment platform will offer P2P ad B2B payment solutions within the country aiming to reduce the transaction costs and speed of transactions.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,473FansLike
2,795FollowersFollow
4,198FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Is it that Time Again? Yes it is! The Market is giving All the Signs that it is an Alt Season

Everything is popping! Is anyone getting 2017 vibes? https://twitter.com/CryptoMichNL/status/1280821951011999745 Tis' the time when gains floweth over. Today, even bitcoin jumped to $9,480 with $1.2 billion in ‘real’ trading...

South Korean Govt. Permits Blockchain-Based Free Trade Zone for Industrial Hemp After Amending 70 Year Old Narcotics Law

The South Korean government has granted a permit to Andong city in Gyeongbuk province of South Korea to run a free trade zone for...

Kraken and Binance Form New Partnerships to Offer More Fiat Funding Options

Amidst the flying altcoins and stuck Bitcoin, cryptocurrency exchanges continue to add new options to allow users to buy and sell digital assets. Kraken has...

India’s Tech Giant, Tata Consultancy Services (TCS), to Launch ‘Quartz' Crypto Trading Solution For Institutions

Tata Consultancy Services (TCS), a subsidiary of India’s largest tech firm, Tata, announced the launch of a crypto solution enabling traditional financial institutions to...

Nexo Collabs With Chainlink; Using Its Decentralized Oracle Network for Crypto Lending Transparency

Nexo’s, leading crypto lender will integrate Chainlink’s extensive Oracle Network to its platform in a bid to decentralize and secure its infrastructure as...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today