A recent tweet from crypto analyst Amelie has ignited discussion that XRP might be used in BRICS’s new cross-border payment system.
The BRICS nations have been actively developing a decentralized payment system to facilitate cross-border transactions in their local currencies.
The BRICS economic bloc, comprising Brazil, Russia, India, China, and South Africa, has been accelerating efforts to establish a cross-border payment system independent of Western financial infrastructure. With de-dollarization a key goal, BRICS nations are seeking alternatives to SWIFT and traditional banking systems.
Russian Finance Minister Anton Siluanov recently confirmed that Moscow is working on financial instruments within BRICS, including a cross-border payment system. According to state-run news agency TASS, Siluanov emphasized that the new system could leverage national currencies, digital technologies, and digital financial assets. He further noted that building a robust financial infrastruct
