Montenegro's government and central bank have launched talks with US-based blockchain company Ripple creating a digital currency for the country, Prime Minister Dritan Abazovic announced on Twitter.
The Adriatic state does not have its own currency and has been using the euro since 2006 when it peacefully seceded from its loose union with Serbia.
“In cooperation with Ripple and the Central Bank, we launched a pilot project to build the first digital currency or stablecoin for Montenegro,” Abazovic wrote.
The idea of creating a digital payment solution is not new for Montenegro. It was first mentioned by the central bank in a report published in mid-December 2021. However, there were no developments since then.
According to the cryptobasic.com news outlet, Ripple would help Podgorica create an euro stablecoin, not a central bank digital currency.