$XRP The recent publication by the Central Bank of Russia titled “Digitalization of Payments and Implementation of Innovations in the Payment Market (2024)” has garnered significant attention within the global financial community, particularly due to its mention of Ripple’s cross-border payment system. This development has sparked discussions on various social media platforms, including a tweet by Edo Farina, the CEO of Alpha Lions Academy. Farina’s tweet points out the acknowledgment of Ripple and its associated token, XRP, within the Russian central bank’s document. The paper outlines advancements in cross-border money transfers, and Ripple’s solution takes center stage, leveraging distributed ledger technology (DLT). This acknowledgment of Ripple, a company that has pioneered digital payments through blockchain, showcases its potential role in the future of global financial systems. The document provides a diagram that explains how Ripple’s system works, detailing the transfer of tokens through DLT networks and their conversion into local currencies, facilitating seamless international payments. This method aligns with Russia’s broader goals of integrating digital innovations into its financial infrastructure. XRP’s Role in Global Payments: Insights from Janus the Watcher Farina’s tweet, while highlighting the importance of Ripple in this context, also sparked conversations about the potential of XRP in international settlements.
In response, an X user named Janus the Watcher pointed out that while the document does recognize Ripple’s system and mentions XRP, Automated Market Makers (AMMs), price oracles, and even Ripple’s smart contract platform Codius, it does not necessarily confirm that Russia or the BRICS nations will settle international transactions using XRP in the near future. Russia central bank