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<ul>
 <li>BRICS coalition explores Ripple/crypto strategy to challenge US dollar dominance.</li>
 <li>RippleNet could replace SWIFT for cross-border transactions.</li>
 <li>XRP Ledger offers a decentralized platform for asset-backed currency.</li>
</ul>
<p>The BRICS coalition, composed of Brazil, Russia, India, China, and South Africa, is considering a Ripple/crypto plan to challenge the US dollar’s global supremacy. This action, according to analysts, has the potential to change the present financial situation.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> PUTIN EYES CRYPTO FOR NEW GLOBAL FINANCE SYSTEM?<br><br>Could Ripple transform the global financial landscape as the Federal Reserve once did?<br><br>Wall Street analysts speculate that the BRICS coalition—Brazil, Russia, India, China, and South Africa—aims to challenge the dominance of… <a href="https://t.co/b8EEPJWWzT" rel="noopener noreferrer nofollow">pic.twitter.com/b8EEPJWWzT</a></p>— Mario Nawfal (@MarioNawfal) <a href="https://twitter.com/MarioNawfal/status/1809528014352318894?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 6, 2024</a>
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<p>Leaders like Vladimir Putin and Xi Jinping are showing strong interest in cryptocurrency as a means of countering US financial dominance. An entirely new financial order based on real assets and blockchain technology might emerge from such a development, altering the current petrodollar system.</p>
<p>The <a href="https://xrpl.org/" target="_blank" rel="noopener noreferrer nofollow">XRP Ledger</a> (XRPL), in particular, provides a potential decentralized platform for quick, safe transactions as a result of the technology developed by Ripple. These features make XRPL a promising foundation for a new asset-backed currency, decreasing reliance on central banks while increasing financial transparency.</p>
<p><a href="https://ripple.com/solutions/cross-border-payments/" target="_blank" rel="noopener noreferrer nofollow">RippleNet</a>, Ripple’s payment network, is also key in this potential change. It allows for real-time, cross-border transactions, potentially replacing the traditional SWIFT system. <a href="https://cryptonewsland.com/how-is-ripplenet-going-to-be-a-threat-to-paypal/" target="_blank" rel="noopener noreferrer nofollow">RippleNet uses XRP</a> in conjunction with On-Demand Liquidity (ODL) to eliminate the requirement for pre-funded accounts, simplifying international payments.</p>
<p>A new, more transparent, efficient, and less reliant on the US dollar global financial system may emerge from the BRICS coalition’s interest in cryptocurrencies and Ripple’s technology. By embracing a crypto/Ripple approach, the BRICS nations have the potential to <a href="https://cryptonewsland.com/thailand-to-join-brics-and-adopt-ripples-xrp-could-this-trigger-xrp-price-surge/" target="_blank" rel="noopener noreferrer nofollow">completely reshape</a> the world financial environment, with major effects on commerce and banking across borders.</p>
<p>The possible adoption of a Ripple/crypto strategy by the BRICS coalition represents a major advancement in global financial services. Ripple’s decentralized technology might serve as the basis for a new asset-backed currency. This change would make the banking system more efficient and put the US dollar under more pressure.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/cracking-down-on-fraud-ripple-joins-tech-giants-in-anti-scam-coalition/" rel="noopener noreferrer nofollow">Cracking Down on Fraud: Ripple Joins Tech Giants in Anti-Scam Coalition</a></li>
 <li><a href="https://cryptonewsland.com/ripple-and-major-tech-firms-unite-to-combat-online-scams-and-fraud/" rel="noopener noreferrer nofollow">Ripple and Major Tech Firms Unite to Combat Online Scams and Fraud</a></li>
 <li><a href="https://cryptonewsland.com/discover-the-rising-new-world-order-brics-to-challenge-us-dollar-dominance/" rel="noopener noreferrer nofollow">Discover the Rising New World Order: BRICS to Challenge US Dollar Dominance</a></li>
 <li><a href="https://cryptonewsland.com/eastward-shift-saudi-arabia-in-negotiations-to-join-brics-bank/" rel="noopener noreferrer nofollow">Eastward Shift: Saudi Arabia in Negotiations to Join BRICS Bank</a></li>
 <li><a href="https://cryptonewsland.com/xrp-and-brics-crafting-a-new-decentralized-financial-ecosystem/" rel="noopener noreferrer nofollow">XRP and BRICS: Crafting a New Decentralized Financial Ecosystem</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/brics-coalition-eyes-ripple-for-new-financial/" rel="noopener noreferrer nofollow">BRICS Coalition Eyes Ripple for New Financial Order, Is This the Awaited XRP Price Pump Trigger?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

BRICS Coalition Eyes Ripple for New Financial Order, Is This the Awaited XRP Price Pump Trigger?

Crypto News Land

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