In a recent revelation, the BRICS consortium, comprising major powers including Brazil, Russia, India, China, and South Africa, has announced its plans to launch a stablecoin for international settlements. The plan follows the countries’ efforts to lessen their dependence on the US Dollar in international commerce. Earlier on April 29, JackTheRippler, a prominent voice in […]
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- The BRICS has announced its plans to launch a stablecoin for international settlements to lessen the power of the US Dollar.
- There are speculations that the BRICS would use Ripple’s XRP settlement platform for the stablecoin with a cross-section.
- Though the details are unclear, there is widespread anticipation that the stablecoin will be backed by gold.
In a recent revelation, the BRICS consortium, comprising major powers including Brazil, Russia, India, China, and South Africa, has announced its plans to launch a stablecoin for international settlements. The plan follows the countries’ efforts to lessen their dependence on the US Dollar in international commerce.
Earlier on April 29, JackTheRippler, a prominent voice in the crypto space, shared an X post to shed light on BRICS’ initiative to roll out a stablecoin. There are speculations that BRICS would turn to Ripple’s XRP settlement platform for the stablecoin with a cross-section.
BREAKING: #BRICS Eye Stablecoin Launch To Reduce The Influence Of The US Dollar. pic.twitter.com/2cRL95W8Qx
— JackTheRippler © (@RippleXrpie) April 29, 2…
The post Will BRICS Use Ripple’s XRP Settlement Platform for Stablecoin? appeared first on Coin Edition.