Are BRICS Nations Partnering With Ripple to Use XRP Ledger for a Global Digital Currency?
BRICS nations, together with Brazil, Russia, India, China, South Africa, and lots of different nations, have publicly mentioned lowering reliance on the US greenback in cross-border commerce.
However new information is circulating on X that BRICS nations are in talks with Ripple, a number one cross-border cost answer, to create a world digital forex and should use the $XRP Ledger for funds between member international locations.
So Coinpedia stepped in to fact-check whether or not the declare is actual or simply one other rumor.
Who Made This Declare?
An X person often called “Ledger Man” claimed that BRICS international locations had been “speaking with Ripple” to make use of the $XRP Ledger (XRPL) for central financial institution digital forex infrastructure.
However is that this declare truly true? Let’s break it down.
Coinpedia’s Key Findings: What’s Really True?
No Official Affirmation From BRICS or Ripple
As of now, there isn’t any official assertion from BRICS governments or Ripple confirming any partnership involving the $XRP Ledger.
Nonetheless, main worldwide partnerships involving central banks are at all times publicly disclosed, and no such announcement exists.
BRICS Is Growing Its Personal Fee Infrastructure
BRICS nations are actively engaged on different cost methods similar to BRICS Pay and cross-border settlement platforms to scale back reliance on the U.S. greenback.
As an alternative of adopting $XRP, BRICS is engaged on a gold-backed digital settlement unit to facilitate commerce amongst member international locations.
Subsequently, their isn’t any official doc stating that XRPL has been chosen because the underlying infrastructure.
Ripple Has Central Financial institution Partnerships, However Not With BRICS
Ripple has partnered with a number of particular person monetary establishments and central banks globally to discover blockchain-based funds.
Nonetheless, there isn’t any proof that BRICS as a company has entered into any settlement with Ripple.
Abstract Desk: Coinpedia’s Proof Towards the Principle
Conclusion
