Much movement with $XRP

Recently, Ripple has signed agreements with financial institutions based in the United Arab Emirates, such as Zand Bank and Mamo, to offer blockchain-based cross-border payment services. These collaborations aim to improve efficiency and reduce the costs of international money transfers.

There have been speculations (and news not always officially confirmed with specific details about the use of XRP as a bridge asset) that BRICS countries, including the UAE and India, may have explored or used XRP for significant oil transactions, seeking alternatives to traditional currencies in international trade. However, official confirmation of these specific transactions with XRP as a bridge currency is often difficult to obtain.

Ripple's strategy in the MENA region is to establish itself as a leading provider of payment infrastructure solutions, allowing banks and financial service providers to make faster and cheaper cross-border transfers. While this does not make XRP the "official cryptocurrency" of a country, it does imply greater integration of Ripple's technology and, potentially, the XRP Ledger into the financial systems of these countries.