🚨XRP In The Spotlight As Russia Confirms New BRICS(🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 )Payment System🤯
The BRICS group is advancing its currency sufficiency scheme with the potential development of its own independent payment system.
Is XRP In View as BRICS Bridge Currency?According to a research paper first spotted by XRP enthusiast Amelia, Russian President Vladimir Putin has confirmed that the bloc is finally moving forward with its alternative currency plan. From the report, there are indications the bloc would explore the use of Ripple-associated XRP for cross-border settlements.
Before now, the Bank of Russia introduced a project on cross-border transfer implementation. This project reportedly considered the use of the Ripple payment system. It was perceived as an excellent basis for the development of a system for cross-border settlements for the group. It is worth noting that XRP is known for its transaction speed and low costs. Hence, it seem like a viable system the bloc is considering to revolutionize its international payment goals.
This move to adopt the cryptocurrency may trigger a massive jump in the price of XRP. CEO & Founder of Cryptonairz, Robert Doyle (Crypto Sensei) believes that XRP’s price may reach $10,000 if BRICS countries adopt it widely.
There is a general opinion that member countries in BRICS stands to gain so much from choosing XRP as their alternative to the United States dollars. The volatile currencies and developing economies of these nations are perceived as challenges that XRP could improve.
Ripple’s growing network of alliances with well-known financial institutions is also regarded as an advantage that the BRICS nation could leverage.
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