Ripple Technology and XRP Showcase the Potential of BRICS Pay’s Digital Payment Revolution.
Partnerships with SBI Holdings, HSBC, ONAFRIQ, and Banco do Brasil strengthen Ripple’s influence.
The recent technological update and Ripple’s native currency, XRP, have generated significant interest regarding their potential role in the BRICS Pay ecosystem. The BRICS Pay project aims to revolutionize digital payments between the BRICS nations, allowing transactions for a combined population of over 3 billion people.
By connecting a significant percentage of the unbanked global population and simplifying cross-border financial transactions, this project has the potential to truly promote financial inclusion.
BREAKING: RIPPLE CONNECTIONS TO “BRICS PAY” A NEW GLOBAL DIGITAL PAYMENT PLATFORM !!
BRICS PAY Is A Digital Payments Platform Being Developed By The Member Countries Of BRICS (Brazil, Russia, India, China, and South Africa).
BRICS PAY Aims To Enable Digital Payments…
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June 20, 2024
Ripple’s Expanding Global Network
Ripple’s main advantage lies in its extensive global network of financial institutions, many of which are based in BRICS countries. For example, SBI Holdings, a major Japanese financial services company, utilizes Ripple technology for international fund transfers. This strategic alliance demonstrates Ripple’s ability to support and enhance the global financial infrastructure.
It is noteworthy how many financial institutions in the BRICS countries are using Ripple technology. The international banking and financial services company, HSBC, is doing commendable work in these countries. Additionally, Ripple’s creative solutions include Banco do Brasil, the second-largest bank in Brazil, and ONAFRIQ (MFS Africa), one of the leading providers of mobile money transfer services in Africa. These partnerships highlight how many people are increasingly relying on Ripple technology to facilitate secure and efficient financial transactions.
XRP Market Data and BRICS Developments
At the time of writing, XRP is valued at approximately $0.4782, representing a 0.83% increase over the past 24 hours, according to CoinMarketCap data. However, it has experienced a downward trend over the past seven days, declining by 2.46%.
Meanwhile, a previous report by CNF highlighted BRICS’ intentions to introduce a gold-backed currency in September. This would have an even more significant impact on the dynamics within the BRICS Pay network.
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