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Central Bank of Russia Is Most Likely to Use XRP for Cross-Border Payments

A recent post by XRP proponent Amelie (@_Crypto_Barbie) reignited interest in a long-standing document from the Central Bank of Russia that could have lasting effects on global finance.

The post highlights a 2020 report indicating that Russia’s central bank has been exploring the use of tokenization to let foreign investors buy shares in domestic companies.

The same document outlines earlier research by the Bank of Russia into blockchain-based settlements that directly mention Ripple and XRP as potential tools for international transactions. According to Amelie, this development positions XRP as a likely candidate for Russia’s cross-border payment framework.

She cited the Central Bank’s document, noting that it referenced experiments involving Ripple technology for cross-border settlements as early as 2018. The report’s technical section describes how Russia’s Novosibirsk laboratory conducted trials using Ripple’s platform to process payments between banks and national systems.

Ripple’s Role in Russian Payment Systems

The document provides detailed insight into how Ripple’s technology was evaluated for settlement operations. It states that the Ripple platform could serve as the foundation for a system of international transfers once legal and technical conditions were satisfied.

The research discussed using XRP as a transfer medium or as a fiat currency equivalent between national banks. It also proposed a framework for reconciling balances between Ripple participants and national systems, using embedded cryptographic solutions on the Ripple network.

Importantly, it included the idea of establishing procedures for “determining cross rates for the internal ‘currency’ of Ripple – XRP.” This indicates that the bank considered XRP not just as a tool for liquidity but as a standardized digital asset within an international framework.

From Pilot Tests to Tokenization

Amelie’s post ties this earlier Ripple research to the Central Bank’s current tokenization initiative. The document she referenced confirms Russia’s goal of allowing foreign investors to buy domestic securities through tokenized systems, signaling a wider shift toward blockchain integration.

The use of an XRP-powered system could make ownership transfers more transparent while maintaining compliance with national regulations. The consistent mentions of Ripple throughout this project highlight a sustained interest in XRP’s functionality within regulated payment environments.

Potential Benefits for XRP

If the Central Bank of Russia moves forward with XRP as part of its cross-border payment and tokenization framework, it could significantly expand the token’s utility. XRP’s efficiency in facilitating instant, low-cost international transactions complements the central bank’s aim to modernize settlements and attract foreign investors.

While no final decision has been publicly announced, the references to Ripple in official research documents and Amelie’s observations suggest XRP remains a viable option for Russia’s financial modernization strategy.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over seven years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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