Ripple has announced the integration of the RLUSD stablecoin into its cross-border payments system, enhancing transaction efficiency and reducing costs. This move aims to facilitate seamless international transfers, bolstering Ripple’s commitment to innovative payment solutions.
The BRICS nations (Brazil, Russia, India, China, and South Africa) are reportedly collaborating on a blockchain-based payment system to reduce reliance on the US dollar. This move aims to counterbalance the dollar’s dominance in global trade and finance. The system, currently in its developmental stages, would facilitate direct currency transactions between BRICS members and streamline cross-border payments. By leveraging blockchain technology, the system seeks to enhance transparency, reduce transaction costs, and mitigate geopolitical risks associated with the dominance of a single currency. The BRICS nations hope to establish a more diversified and equitable international financial architecture.