The Bank of France Openly Discussed XRP. Here’s why

XRP has long attracted attention from institutions exploring digital payment infrastructure. Crypto researcher SMQKE recently brought a notable data point back into focus, one that stretches back to the early days of Europe’s digital currency discussions.

The claim centres on France and a possible role for XRP in issuing the Digital Euro.

SMQKE posted on X: “The Bank of France openly discussed XRP as a possible platform to issue the Digital Euro. This is documented.” The claim has a documented basis. However, the source carries important context.

Where the Reference Comes From

A 2020 report by CPA Australia noted that France had “openly discussed Ripple/XRP as a possible platform for Europe’s central digital currency.” The same report cited XRP’s trust among banks as a key advantage, pointing to its permissioned network structure. That structure set it apart from public, permissionless blockchains like Bitcoin and Ethereum.

Australian law firm Piper Alderman separately noted in a CBDC analysis that 80% of central banks worldwide were engaging in CBDC-related research. The firm highlighted that Ripple had piloted a private version of the XRP Ledger to provide central banks “a secure, controlled and flexible solution for the issuance and management of digital currencies.”

The Piper Alderman paper concluded that existing blockchain technology could be configured to meet the security and speed requirements of CBDC projects. Ripple’s proposal served as the example.

A Distinction Worth Making

MjB38 acknowledged it as “an interesting historical reference,” while noting that no confirmation exists of XRP or the XRP Ledger being chosen or used for the digital euro.

The distinction is meaningful. A central bank discussing a platform differs from selecting or deploying it. The CPA Australia report documented a conversation, not a decision.

Why XRP Remained in the Conversation

XRP’s appeal in CBDC discussions is not an accident. Most central banks needed speed, privacy, and control, features public, permissionless blockchains cannot deliver at scale. The XRP Ledger’s permissioned model directly addressed those requirements.

Ripple’s own CBDC strategy reinforced this positioning. The company piloted a private version of the public XRPL specifically for central bank use, giving institutions a familiar framework with the control they needed.

Europe’s digital currency project has since progressed under the European Central Bank. The ECB has not publicly named XRP or the XRP Ledger as part of its infrastructure. France’s earlier discussions, documented in third-party reports, remain a reference point in the historical record.