Crypto figure Armando Pantoja notes Ripple’s expansion, highlighting potential XRP adoption by Thailand and BRICS nations’ interest in XRP.
Armando Pantoja, a renowned crypto personality, has emphasized Ripple’s expanding presence, citing the prospective adoption of XRP by Thailand, as indicated in a recent letter from Ripple.
According to Pantoja, it appears that the BRICS nations are solely focused on XRP.
Pantoja provides a copy of Ripple’s letter to Thai authorities, noting that the Asian nation is the most recent to engage in discussions with Ripple regarding the adoption of the XRP.
The crypto investor also emphasized that Thailand has recently submitted an application to become a member of BRICS, which he equated to the prospective connection between XRP and the BRICS.
In the interim, the letter that was shared underscored Ripple’s recognition of the opportunity to provide feedback on a Bank of Thailand Discussion Paper.
Ripple emphasized that the paper, “The Way Forward For Retail Central Bank Digital Currency in Thailand,” is a comprehensive examination and analysis of the CBDC subject in Thailand.
Ripple expressed its appreciation for the Bank of Thailand’s leadership in the CBDC sector, emphasizing the significance of public-private partnerships.
Ripple enthusiastically accepted the opportunity to aid the Bank of Thailand in the design and development of a retail CBDC, in accordance with this.
Ripple emphasized its accomplishments in order to demonstrate its capacity, including the fact that it had approximately 300 customers and software products that enable financial institutions to send money globally.
The FinTech company also emphasized that its software facilitates real-time transactions at a fraction of the cost of conventional services that are accessible to market participants.
Ripple has declared that its objective is not to supplant fiat currencies, but rather to facilitate a more transparent, cost-effective, and expedited method of cross-border remittances.
The company observed that it accomplishes its objectives by employing blockchain technology, which enables financial institutions to process payments with end-to-end visibility, reliability, and cost-effectiveness, regardless of their location.
