Stablecoin

<ul class="news-points">
 <li>The BRICS has announced its plans to launch a stablecoin for international settlements to lessen the power of the US Dollar.</li>
 <li>There are speculations that the BRICS would use Ripple’s XRP settlement platform for the stablecoin with a cross-section.</li>
 <li>Though the details are unclear, there is widespread anticipation that the stablecoin will be backed by gold.</li>
</ul>
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.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: <a href="https://twitter.com/hashtag/BRICS?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BRICS</a> Eye Stablecoin Launch To Reduce The Influence Of The US Dollar. <a href="https://t.co/2cRL95W8Qx" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/2cRL95W8Qx</a>— JackTheRippler © (@RippleXrpie) <a href="https://twitter.com/RippleXrpie/status/1784735467738399154?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 29, 2…</a>
 </blockquote>
 </div>
</figure>
The post <a href="https://coinedition.com/will-brics-use-ripples-xrp-settlement-platform-for-stablecoin/" rel="noopener noreferrer nofollow">Will BRICS Use Ripple’s XRP Settlement Platform for Stablecoin?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Will BRICS Use Ripple’s XRP Settlement Platform for Stablecoin?

Coin Edition

Other articles published on Apr 29, 2024

BITBOT ICO Raises $2.9m as AI Trading Bot Sector Pumps

Lawmakers Urge Biden Admin for Heightened Crypto Oversight

Russian crypto exchange Beribit freezes withdrawals, offers chocolate instead

Avalanche and Stripe Collaborate to Simplify Crypto Transactions

Uniswap DEX comprises 37% of Ethereum L2 volume

Binance Expands Support For SOL, SHIB, XRP, ADA, Prices To Recover?

Join our free newsletter for daily crypto updates!