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Thailand has recently shown interest in adopting Ripple's XRP cryptocurrency, as indicated in a communication from Ripple to Thai authorities. This development is part of a broader trend towards increased XRP adoption, especially within BRICS countries (Brazil, Russia, India, China, and South Africa). Ripple's letter, which was shared by crypto enthusiast Armando Pantoja, addresses a Bank of Thailand Discussion Paper titled "The Way Forward for Retail Central Bank Digital Currency in Thailand." This paper demonstrates Thailand's dedication to exploring the implementation of CBDCs. Ripple, in its response, praises the Bank of Thailand for its leadership in the CBDC arena and its acknowledgment of the benefits of public-private partnerships. Ripple also expresses eagerness to work in partnership with the Bank to develop a retail CBDC specifically for Thailand. Although the details regarding Thailand's potential adoption of XRP and the BRICS' alternative currency system are not fully clear, these advancements indicate a convergence of elements that have the potential to greatly influence the worldwide financial environment. #Thailand #Ripple #CBDC #CrossborderPayments #Bank #Money #Finance #Economy #BRICS #XRP #xrpnews #Cryptocurrency #XRPAdoption
Duration: 15 sPosted : Tue, 25 Jun 2024 11:10:59Views
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