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Title: Central Bank of Ireland Set to Implement XRP in Cross-Border Payment System

Dubai, United Arab Emirates, United Arab Emirates, 21st Aug 2024 - In a groundbreaking move that highlights the growing integration of cryptocurrencies into global finance, the Central Bank of Ireland (CBI) has recognized Ripple, the company behind XRP, as a key player in its future cross-border payment system. Ripple Markets Ireland Limited, Ripple's Irish subsidiary, is now officially listed as a registered Virtual Asset Service Provider (VASP) by the CBI. This recognition paves the way for the use of XRP and the innovative XRP Ledger System, which includes the CryptoTradingFund (CTF) and its CTF token. This system not only facilitates seamless cross-border payments but also rewards users with cash back in the form of CTF tokens.XRP Ledger and the Cash Back RevolutionThe Central Bank of Ireland’s decision to utilize the XRP Ledger in its payment system is set to revolutionize international transactions. By integrating the XRP Ledger and its cashback feature, customers can make payments using XRP and earn CTF tokens as rewards. These tokens can be redeemed for products or converted to cash, offering significant value to users. The limited supply of CTF tokens, coupled with their anticipated demand, could drive their value from $0.72 to an extraordinary $537.95, positioning them as a sought-after asset. Expanding Ripple's Reach in EuropeRipple’s registration as a VASP in Ireland marks a significant step in its European expansion strategy. Following this registration, Ripple plans to extend its services across the European Economic Area (EEA) once the Markets in Crypto Assets Regulation (MiCA) takes effect at the end of 2024. The MiCA legislation is set to bring comprehensive regulation to virtual asset providers in the European Union, providing a clear framework fo...

This press release is issued by King Newswire