<ul><li>Rumors are circulating that BRICS nations are considering using Ripple's XRP to support a gold-backed economic system, aiming to reduce reliance on the U.S. dollar and establish an independent financial system.</li><li>XRP's quick, low-cost, and scalable cross-border payment capabilities make it a potential candidate for the system, providing faster and more efficient international transactions among BRICS countries.</li><li>Even if XRP is not officially adopted, its technology demonstrates the kind of infrastructure emerging economies might want to adopt, breaking away from reliance on traditional financial powers.</li><li>The BRICS bloc sees the SWIFT network as slow, expensive, and geopolitically influenced, leading to the development of alternative payment rails like Russia's SPFS, China's CIPS, and India's UPI network to streamline trade and financial transactions.</li></ul>

XRP to Power BRICS’ Gold-Backed System? Ripple Rumors Intensify

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