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BRICS XRP development has in fact triggered numerous key financial infrastructure projects over years, central banks affirming persistent efforts on Ripple technology. Recently, a document trail released by Versan Aljarrah of Black Swan Capitalist revealed that BRICS central banks and their developmental institutions have been using XRP Ledger infrastructure as part of their plan to displace dollar dominance in the global financial system. Also Read: XRP Goes Live for 60M Air China Travelers Worldwide BRICS XRP Adoption and Ledger Innovations Reshape Cross-Border Payments Source: CryptoNynjas De-dollarization: Evidence Points to Multi-Year BRICS XRP Strategy Archived materials from BRICS economic forums and the New Development Bank have spearheaded several key integration efforts, along with technical reports that leverage the ledger’s escrow and automation Features as viable tools for trade finance and settlement. These findings actually suggest that BRICS XRP adoption isn...

BRICS de-dollarization plans have, at the time of writing, hit a major roadblock as India dollar rejection has become quite apparent. Indian officials have declared, in no uncertain terms, “absolutely no interest” in currency substitution initiatives that would, in any way, undermine the United States dollar position, and this has created some tension within the expanding Global South alliance and also raised questions about the future of the group’s currency plans. Also Read: Pi Coin Faces 40% Crash Risk: Will $0.70 Hold Through May 25, 2025? BRICS Currency Plans Stall As Key Member Backs United States Dollar Source: AFP The ongoing disagreement over BRICS de-dollarization has exposed some growing divisions within the Global South alliance, with Russia and China actively pushing for alternatives while India dollar rejection continues to maintain support for the current United States dollar as the global reserve currency system. Source: Watcher Guru Indian Officials E...

The de-dollarization movement has taken substantial hold in recent years. The BRICS bloc of nations has spearheaded the search for an alternative to the US dollar. China, in particular, has pushed for the yuan as a replacement. While sentiment around the USD has dimmed, there are very few alternatives that can take its spot. Also Read: Putin Gifts Trump Painting & Proposes Ceasefire—Could a US-Russia Axis Trigger Re-Dollarization or De-Dollarization? Why India Does Not Back The De-Dollarization Movement Source: Bloomberg India has stated that it has no intention of moving away from the US dollar. According to India’s External Affairs Minister Dr. S. Jaishankar, the nation is not pushing for de-dollarization or a BRICS currency. Jaishankar has also highlighted the role of the USD in global stability. According to the ex-Reserve Bank of India Governor, Shaktikanta Das, ” Regarding the dollar and de-dollarization, as far as India is concerned, we have not taken any step. .....

BRICS members India and Indonesia have officially agreed to abandon the US dollar and settle cross-border transactions in local currencies. The decision to use local currencies for trade comes even after Trump threatened to levy 100% tariffs on goods entering the US. Indonesia intended to promote its national currency for bilateral trade and India has accepted the new economic policy. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS: 40 Countries Look To Ditch the US Dollar Cross-border transactions between BRICS members India and Indonesia will soon be settled in local currencies and not the US dollar. The developing countries aim to deepen their financial integration and promote trade in national currencies to strengthen their GPDs. Trump is yet to react to the new policy where the US dollar is being sidelined and local currencies are taking center stage. Also Read: De-Dollarization: 2 Countries Settle 80% of Trade ...

With the economic alliance becoming a clear challenger to the recently appointed president of the United States, the BRICS bloc has seen itself on the receiving end of US Tariff threats. However, that street goes both ways. Moreover, data shows that, in the end, it could do more harm than good to the Western nation. Since his election victory, US President Donald Trump has not minced words in relation to BRICS. As the group has continually embraced de-dollarization efforts, he has fought back. Yet, using tariffs to ensure the stability and prominence of the US dollar could be a decision that has immense consequences. Source: Reuters / Kevin Lamarque / Pool Also Read: BRICS: Analyst Calls US Dollar ‘Grossly Overvalued’ & Here’s Why Trump Tariff Threat to BRICS Nations Have Massive Implications for US, Data Says During his campaign for reelection, Donald Trump had placed an immense focus on the US dollar’s status. Specifically, he reiterated the importance of ensuring that the green...

2025 is just a day away, with a new dawn already promising a variety of new developments. 2025 is pivotal to the US government in many ways, as it marks the initiation of Trump’s official leadership as the 47th US president. The president-elect is currently banking on bolstering the US dollar by imposing tariffs, an idea which, according to many, could further erode the dollar’s value in the long haul. Will de-dollarization prevail in 2025, or will it die down eventually? Let’s find out. Also Read: Ripple: Here Are The 4 Price Targets That XRP Could Hit In 2025 Tariffs and Trump: A Lethal Combination? Source: Watcher Guru Trump has vowed to impose tariffs on countries that have been moving away from the US dollar. The fact that the rising de-dollarization drives have lately been wreaking havoc on the dollar has compelled Trump to ensure a plan is safely in place to protect the USD. However, several analysts believe Trump’s tariff plan may ultimately backfire, furthering the ...

BRICS is pulling every option up its sleeve to challenge the US dollar’s hegemony in the global financial order. From settling trade in local currencies to diversifying their central bank reserves with gold and advancing the de-dollarization agenda, they’ve been doing it all. The formation of a BRICS currency was also on the cards but the details of the development remain little known. Also Read: BRICS: Calls To Move Away From the US Dollar Is Growing However, veteran banker and Jio Financial Services Chairman KV Kamath shed light on the little-known yet powerful initiative. Kamath said during an interview with CNBC-TV18 that a BRICS currency reserve will soon shake up the Western financial world. He explained that the development could challenge the IMF and create a parallel global economy dampening the US hegemony. Also Read: BRICS: India Makes Huge Announcement on New Currency BRICS Currency Reserve to Challenge the US, IMF, & Western Allies Source: Cryptopolitian.com The...

The BRICS alliance might not take Trump’s threats lightly and could impose countermeasures for his 100% tariff remark. China, Russia, and Iran could move forward, challenging Trump, while other member nations could play it softly. Trump recently threatened BRICS to abandon the de-dollarization agenda or face consequences of 100% tariffs on goods entering the US. The threat was made even before he took oath indicating that the trade war would intensify under his presidency. Trump wants the US dollar to remain supreme and be the dominant currency of the world. Also Read: BRICS: US Could Toughen Sanctions on Russia’s Oil Exports BRICS Will Respond With Countermeasures on Trump’s 100% Tariff Source: AFP The BRICS bloc could countermeasure Trump’s 100% tariff and place the heat on the US, said Shakila Yacob, Professor at Jeffrey Cheah Institute. The move could ignite a fresh trade war as Trump could also step up his aggression and impose more duties. “Of course, this ...

In what is a crucial step for the country and its BRICS alliance shift toward the asset class, China has ruled cryptocurrency as property while maintaining a ban on business dealings. Indeed, a November 18th ruling states that cryptocurrencies maintain the same attribute as property. The ruling was made by the Shanghai Songjiant People’s Court and clarified the legal status of the tokens in the country. Moreover, the recent development has the industry as a whole hopeful. Specifically, the property status is a good sign for the future direction of its cryptocurrency regulation. Source: Business Telegraph Also Read: Donald Trump Poised to Take on BRICS and the Yuan China Establishes Crypto as Propert, Still Faces Business Ban Throughout this year, the cryptocurrency industry has become as important as ever on a global scale. In the United States, the arrival of crypto-based ETFs has opened up increased institutional investments. Indeed, Bitcoin ETFs have recently surpassed $100 bil...

The president-elect of the United States, Donald Trump, has vowed to end de-dollarization. Trump has shared his grand plans on how he may impose tariffs on nations, making it harder for them to ditch the US dollar. At the same time, Trump may also streamline policies that may fuel the surge of greenback, which, in turn, is also lethal for the US in one way. Also Read: Can Dogecoin (DOGE) Hit $1 Under Trump Musk Leadership? Trump USD Policies Could Further Push The Nations Away Source: NBC News The US dollar has gained immense momentum after the US elections crowned Donald Trump as the new president of the US. Trump’s crowning as the 47th president of the US is crucial in many ways. For instance, Trump is ready to explore innovative methods to boost the greenback, which includes the establishment of the DOGE department headed by Musk. The aforementioned department will be responsible for meticulous financial planning and budgeting, which may help the US come out of its depressive econom...

Bloomberg’s Senior Editor Chris Anstey analyzed the future of the de-dollarization initiative kick-started by the BRICS alliance this year. The bloc wants to put a full stop to the US dollar and uproot it from the world’s reserve currency status. The agenda is to put local currencies ahead for trade which could lead to the natural death of the USD. Also Read: BRICS: U.S. Dollar Crisis Could Begin in 2025 Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. While the idea sounds easy on paper, the reality is painstakingly different as the currency markets are dependent on each other. The Bloomberg analyst predicted that the BRICS de-dollarization initiative will just be a “dream” that “remains a fantasy” forever. BRICS: De-Dollarization Will Remain a Fantasy, An Unrealistic Dream: Bloomberg Analyst Source: iStock The Bloomberg analyst wrote that the BRICS 2024 summit on de-dollarization showed no real d...