The Ripple CBDC Innovate challenge is designed to promote the building of applications for financial inclusion, interoperability & retail CBDCs.

Ripple is currently engaged with Central Banks around the world to better understand their goals and assess how Ripple’s CBDC Private Ledger can help achieve them. We believe CBDCs will be a game-changer for Central Banks, enabling better interoperability of payments & transfers, accelerating retail-facing transactions, and promoting inclusive financial frameworks for digital assets. With the CBDC Innovate Challenge, Ripple is excited to offer the enterprise developer community an opportunity to create CBDC applications for prizes. The CBDC Innovate Challenge will be held in two phases, and your access to this website means that you are one of our finalists from CBDC Innovate Phase 1!

For Phase 2 of the challenge, participants can use either the Public XRP Ledger or Private CBDC Ledger to develop on. Winners will be announced at Ripple Swell London 2022, Ripple’s annual flagship event that brings together the world’s most influential voices across crypto, blockchain, payments, financial services and economic policy.

Phase 2 of the CBDC Challenge

Entrants must successfully complete a deployable application to move forward into judging phase of CBDC Innovate Phase II. Phase 2 of the challenge, participants will have the option of utilizing their own CBDC Private Ledger provisioned by Ripple during Phase II of the challenge.

CBDC Challenge Phase 2

Challenge Details Posted: September 26
Submissions Due: October 31
Judging: November 1 - November 4
Winners Announced: November 16 - November 17

In this event, registrants will continue working on their selected category from Phase I : 



Build a solution to enable CBDCs to work functionally and bridge with other digital assets (CBDCs, NFTs, stablecoins, etc.) 

  • Consider solutions which interoperate with 2 or more CBDCs (mCBDC)
  • Consider solutions that work with different denominations of CBDCs.
    • Solutions for cross-border transactions
    • Consider solutions to allow different CBDCs to be held in the same wallet. 
    • Consider how non-CBDC assets affect CBDC operations. 


Build an interface that works with a CBDC for any human to interact with a CBDC. 

  • Access to financial institutions for underbanked and unbanked individuals has been a pain point for many in developing nations. 
  • How can a CBDC be integrated into different existing financial systems? Entrants should consider building applications that offer:
    • Offline Solutions
    • Integrate into existing payment systems
    • Ease of use
    • Recoverability
    • Privacy implementations

Financial Inclusion

Build a solution that can leverage the benefits of a CBDC to enable those who cannot participate in the current financial system. Entrants should look to create applications to:

  • Bring banking services to underserved populations.
  • Equalize spending power from traditionally marginalized communities through CBDCs. Ex: P2P Lending 


What to Build :

Build a fintech or payments application/solution that utilizes Ripple’s CBDC Private Ledger in one of the three categories: Interoperability, Retail-Facing, or Financial Inclusion.

What to Submit:

  • Provide a URL to your code repository for judging and testing. If private, please provide testing instructions OR link to deployed App

  • Include a video (about 3 minutes) that demonstrates your submission. Videos must be uploaded to YouTube, Vimeo, or Facebook Video and made public.

  • Feedback on experience with Ripple and CBDC

Hackathon Sponsors


$150,000 in prizes

Interoperability Winner - Enterprise

• $30,000 USD

Interoperability Winner - Individual / Team

• $20,000 USD

Retail Facing Winner - Enterprise

• $30,000 USD

Retail Facing Winner - Individual / Team

• $20,000 USD

Financial Inclusion Winner - Enterprise

• $30,000 USD

Financial Inclusion Winner - Individual / Team

• $20,000 USD

Devpost Achievements

Submitting to this hackathon could earn you:


Stefany Bello

Stefany Bello
Head of Digital Partnerships and Strategic Alliances in Latin America and the Caribbean (LAC), Mastercard

Jonathan Donovan

Jonathan Donovan
Vice President of Product Development - Blockchain and Digital Assets, Mastercard

Daniel Eidan

Daniel Eidan
Adviser and Solution Architect, BIS Innovation Hub (BIS IH)

Aleksi Grym

Aleksi Grym
Head of Fintech and Principal Adviser, Bank of Finland

Bryena Jyoti

Bryena Jyoti
Director, Blockchain Technology Solutions, Digital Assets Innovation, PwC

Jennifer Lassiter

Jennifer Lassiter
Executive Director, The Digital Dollar Project

Dr. Ousmène Jacques Mandeng

Dr. Ousmène Jacques Mandeng
Senior Advisor, Blockchain and Multiparty Systems, Accenture

Brett Molin

Brett Molin
Technical Partner Director, Central Banks Ripple

Anastasia “Tracy” Raissis

Anastasia “Tracy” Raissis
Director for International Financials, World Wide Public Sector, Amazon Web

Rajesh Sadhwani

Rajesh Sadhwani
Managing Director - Banking & Capital Markets, DXC Technology

Nav Singh

Nav Singh
Head of EMEA Marketing and Communications - Banking and Capital Markets, DXC Technology

John Velissarios

John Velissarios
Global Managing Director - Digital Assets, Custody & CBDC Lead, Accenture

Xiaochen Zhang

Xiaochen Zhang
Global Head of Innovation & Go To Market, Amazon Web Services (AWS)

Judging Criteria

  • Technological Implementation
    Does the interaction with CBDCs demonstrate quality software development for the financial services and global community?
  • Potential Impact
    How big of an impact could the project have on the people around the world? Can this be applied as a use case to a larger audience?
  • Quality of the Idea
    How creative and unique is the project?
  • Originality
    How original and novel is the project?
  • Practicality
    How adaptable is the project? Does it align with the goals of the hackathon?
  • Real-World Applicability
    Can this project be applied in a real instance in either the short-term or long-term?
  • Use of XRPL protocol native features
    How well are the XRPL protocol native features incorporated?
  • Completeness
    This project must have full-stack functionality.

Questions? Email the hackathon manager

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