$XRP Crypto enthusiast Kenny Nguyen shared a post noting that the XRP Ledger was cited in a BRICS economic report examining blockchain applications for cross-border trade.
Kenny attached slides of the report and its potential implications for digital asset infrastructure and international payments.
✨Details from the Attached Slides
The slides state that a crypto researcher, SMQKE, discovered an explicit reference to the XRP Ledger in an official BRICS document that explores blockchain technology for trade finance and digital currency development.
The report highlights the XRP Ledger’s escrow model as a potential solution for automated payment systems. It explains that virtual escrow accounts could ensure funds are reliably available once specific contractual conditions are met, positioning the feature as relevant for trade settlement processes.
The slides further link the mention of the XRP Ledger to the broader development of BRICS Pay, described as a decentralized blockchain payment initiative. The stated goal of BRICS Pay is to create an alternative cross-border settlement framework that reduces reliance on SWIFT and limits dependence on the U.S. dollar in international trade.
The presentation also notes that the BRICS Business Council has operated a working group since 2019 to examine the role of cryptocurrencies in trade facilitation, aligning with the bloc’s broader objective of advancing de-dollarization.
While acknowledging established platforms such as the XRP Ledger, the material adds that BRICS members are also considering an “in-house smart contract system,” which suggests that they are weighing the use of proprietary infrastructure alongside public blockchain networks. This reflects an ongoing assessment of both existing solutions and new frameworks that could be developed internally by BRICS nations.
✨Why the Report Is Viewed as Significant
The slides conclude by describing the alleged reference as the first formal acknowledgment of the XRP Ledger by a major economic bloc. They argue that such recognition is notable as BRICS represent around 40% of the global population.
From this perspective, interest in the XRP Ledger is presented as a development that could contribute to broader adoption of blockchain-based financial systems, while also accelerating efforts to diversify settlement mechanisms beyond those dominated by the U.S. dollar.
✨Nguyen’s Framing of the Development
By tagging XRP, RLUSD, and XRPETF, Nguyen connects the BRICS-related information to wider themes within the XRP ecosystem. RLUSD, Ripple’s U.S. dollar-backed stablecoin, is already live and positioned to play a role in cross-border payments by providing fiat-pegged liquidity.
The mention of XRPETF highlights market structure considerations that remain a focus for community members monitoring potential regulatory approvals for exchange-traded products. Through this framing, Nguyen describes how the BRICS document, if accurate, intersects with ongoing developments tied to XRP and its broader ecosystem.
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