CRYPTO

Challenge

Read

Reserve

<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">
 <div class="wp-block-embed__wrapper">
  <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>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<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

Andre artikler publisert på 7. juli 2024

Analysts Fear For Ethereum Classic (ETC) and ICP As Crypto Investors Prefer 100x Potential Altcoi...

North Carolina Governor Vetoes Bill to Ban CBDC

Nintendo Takes a Stand: No Generative AI in Building Nintendo Game Titles

BlockDAG Chases $5M Daily Dream in Presale, While MKR Soars & VeChain Pioneers Sustainability

MultiversX (EGLD) Jumps 20% Due To Key Wallet Integration

Crypto Highlights Of The Week

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!