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- Ripple acknowledges Thailand’s potential adoption of XRP in a letter to Thai authorities.
- Ripple praises Bank of Thailand’s leadership in CBDC research and offers support.
A well-known member of the cryptocurrency community, Armando Pantoja, recently highlighted Ripple’s amazing growth initiatives. Pantoja emphasizes the possible use of XRP by Thailand by quoting a letter from Ripple. Pantoja said BRICS countries seem to be getting more and more interested in XRP.
🚨 Breaking : Thailand 🇹🇭 is the latest country in talks with @Ripple about adopting $XRP and has just applied to join #BRICS.
Looks like #BRICS nations are all about that #XRP 👇🏽 pic.twitter.com/OAPFhVdvux
— Armando Pantoja (@_TallGuyTycoon) June 22, 2024
Thailand’s Engagement with Ripple
Pantoja included a copy of Ripple’s letter to Thai officials in his disclosures. Thailand is the most recent country to have talks with Ripple about XRP adoption, the letter says. Pantoja further suggests a wider geopolitical interest in XRP by relating Thailand’s current bid to join BRICS with its possible connection to the cryptocurrency.
The Ripple shared a letter thanking readers for the chance to provide input on a Bank of Thailand discussion paper titled “The Way Forward for Retail Central Bank Digital Currency in Thailand.”
For its thorough investigation and analysis of Central Bank Digital Currency (CBDC) in Thailand, Ripple commends the paper. The efforts of the nation to investigate and maybe put into practice a retail CBDC are highlighted in this thorough report.
Ripple underlined the need of public-private collaborations and thanked the Bank of Thailand for its leadership in the CBDC space.
Ripple said in the letter that it would be happy to help the Bank of Thailand with the planning and creation of a retail CBDC. This action is in keeping with Ripple’s larger plan to build solid partnerships with financial institutions and central banks all around the world.
Meanwhile, as of right now, XRP is trading for about $0.4736, down 3.02% in the last 24 hours, according to CoinMarketCap data. XRP has also been trending bearish over the past seven days, falling by 3.13%. Knowing the present mood around XRP as Ripple keeps growing depends on these market dynamics.
Citing tech giants like Amazon and Facebook, previous CNF publications emphasized Ripple’s potential to grow into a billion-dollar business.
