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XRP The global financial order is being reshaped: BRICS payment system is launched, why is XRP attracting so much attention?
The global financial order is undergoing profound changes. In a recent video, Brad Kimes of Digital Perspectives took an in-depth look at why Ripple and its native token XRP are at the heart of this change.
Kimes pointed out that the BRICS Alliance, composed of Brazil, Russia , India, China , South Africa and a growing number of partner countries, has just launched the "BRICS Pay" system. Although many people once regarded this as an unrealistic idea, Kimes took a different view. He believes that BRICS Pay represents specific actions taken by an important pole of the global economy and aims to build payment infrastructure independent of the US dollar system.
Russian President Vladimir Putin has spoken directly about this shift, saying that the so-called "old leaders" of global economic growth will be replaced by "new growth engines." This statement reveals the geopolitical intentions behind pushing BRICS countries to build new infrastructure.
Ripple's extensive presence in BRICS countries
Ripple maintains existing connections with almost all BRICS member states:
- Brazil: Ripple has expanded payment, custody and treasury services, while the BBRL stablecoin has been launched on XRP Ledger.
- United Arab Emirates: Ripple holds a license issued by the Dubai Financial Services Authority (DFSA).
- South Africa: ABSA Bank hired Ripple to provide institutional digital asset custody services.
- India: An active partnership between ODL (On-Demand Liquidity) and Ripple Payments has been established.
- Russia : Conducted bank-level testing as early as 2018.
- China : Early participation in the RippleNet network through LinlinPay.
Kimes does not assert that Ripple is the infrastructure of BRICS Pay, but believes that given these deep connections, it is very reasonable to raise the issue. In addition, Ripple holds a MiCA license covering the entire European Union and has established a custody partnership with Intesa Sanpaolo, Italy's largest bank.
Regulatory clarity in the United States is approaching
The CLARITY Act remains a key event in the United States on XRP legislation. A former Treasury official said the bill's chances of passing were "better than ever before." Bloomberg's Stephen Dennis reports that it currently appears that between 7 and 10 Senate Democrats may support closure. Digital Chamber's Cody Corbo added that the bill could be split into smaller parts and added to must-pass legislation such as the NDAA before the end of the year.
Institutional scale has arrived
Caroline Pham, a former chairman of the Commodity Futures Trading Commission (CFTC), said institutional adoption could involve "not just millions, not just billions, not just trillions, possibly quadrillions." DTC (American Depository Trust Corporation) handles US$4 trillion in settlements annually, and Ripple Prime is one of the companies selected to work with it.
Kimes also highlighted Ripple Treasury and upcoming changes to the ledger lending agreement. He cited Ripple's honorary chief technology officer David Schwartz, who believes that XRP has the potential to surpass Bitcoin. All signs seem to point to a positive future for digital assets.
Disclaimer : The content of this document is for reference only and does not constitute any financial advice. The opinions expressed in the article may include the author's personal opinions and do not represent the position of the publishing platform. Readers are advised to conduct adequate research before making any investment decisions. Any action taken by readers is at their own risk. This platform is not responsible for any financial losses.
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