Ripple and Stellar Shine as Crunchfish CEO Reveals Collaboration with Central Banks, Spotlight on Offline Payments Solutions – BIS Partnership Adds to the Momentum

Central banks across the world have been currently working on blockchain-based digital currencies aka CBDCs and blockchain platforms like Ripple and Stellar have been among the most-preferred platforms for launching these projects.

While several central banks have been working on online solutions for CBDCs, they are also exploring ways to make use of CBDCs for offline payments. Digital Cash platform Crunchfish has been one of the forerunners in providing offline payment capabilities for payment services, banks, and CBDC implementation.

Thus, it helps in establishing the robustness of payment services by offering survivability in the case of failure of online connectivity or backend server outages. Joachim Samuelsson, the CEO of Crunfish recently mentioned how Ripple and Stellar have been working alongside central banks.

Besides, he added that Crunchfish and its solutions have also been under the radar of companies such as Ripple and Stellar. The good thing about Crunchfish is that it has already partnered with the Bank of International Settlements (BIS). Samuelsson also added that big players such as Ripple and Stellar could provide a bridge between Crunchfish and central banks. He said that they are well-positioned to deal with the technical requirements for CBDCs.

CEO of Crunchfish mentions Ripple & Stellar working alongside central banks, and they’re now aware of Crunchfish who offers offline payments solutions.
Crunchfish is partnered with BIS as well. pic.twitter.com/Pag7U6vWTX

— Mr. Man (@MrManXRP) May 31, 2023

Crunchfish Digital Cash, Ripple, and Stellar

Crunchfish Digital Cash enhances all types of payments, making it the future of payment methods across ious platforms such as mobiles, web, cards, and wearables. It supports different payment s including Instant, EMV, CBDC, and cryptocurrency, and can be used for both online and offline transactions.

Touchless interaction allows users to interact with devices without the need to touch displays or physical buttons. These solutions are specifically designed for everyday use and offer outstanding performance and are optimized using deep learning techniques to enhance experiences in Augmented Reality, Virtual Reality, and the digital interfaces of the future.

On the other hand, blockchain startup Ripple has also been at the forefront of building new solutions for CBDCs using its distributed ledger technology (DLT). Last month, Ripple introduced a CBDC platform enabling banks to launch their CBDCs on the Ripple technology.

The Ripple CBDC platform is a modified version of the XRP ledger (XRPL) that was created two years ago. According to a statement, the CBDC platform will use the same blockchain technology as XRPL, allowing users to personalize and oversee the entire process of fiat-based CBDC transactions and distribution. Big banking players like HSBC have also praised Ripple’s DLT technology which is well-suited to cater to global banking needs.

On the other hand, strong economies like Brazil have chosen the Stellar blockchain to conduct the pilot test of its central bank digital currency aka Digital Real.