BRICS Unveils New Payment System: Is Ripple Set for Increased Adoption?

Aug 21, 2024 Aug 21, 2024

BRICS alliance is developing a new payment system to reduce reliance on the US dollar in global trade.

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Payment system will use Russia’s SPFS, allowing transactions without SWIFT and increasing local currency use.

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XRP, might be integrated into BRICS’ system, offering fast, low-cost cross-border transactions.

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As BRICS gears up for its 2024 Summit, this system may redefine global economic dynamics.

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