Ripple Applauds Thailand’s Possible Adoption of XRP in Letter to Thai Authorities
Ripple has commended the Bank of Thailand for its leadership in researching Central Bank Digital Currency (CBDC) and expressed its support for the country’s potential adoption of XRP. Armando Pantoja, a prominent figure in the cryptocurrency community, has drawn attention to Ripple’s ambitious growth strategies and highlighted the interest shown by Thailand in using XRP. Pantoja suggested that this interest may be connected to Thailand’s recent application to join BRICS, a group of influential emerging economies.
Pantoja shared a letter from Ripple addressed to Thai officials, which confirmed that Thailand is in discussions with Ripple regarding the adoption of XRP. The letter also acknowledged a broader geopolitical significance to Thailand’s interest in XRP.
Ripple’s letter expressed gratitude for the opportunity to contribute to the Bank of Thailand’s discussion paper on the future of retail CBDC in the country. Ripple praised the thoroughness of the paper’s investigation and analysis of CBDCs in Thailand, highlighting the nation’s commitment to exploring and potentially implementing a retail CBDC. The letter emphasized the importance of public-private collaborations and commended the Bank of Thailand for its leadership in the CBDC space. Ripple offered its assistance in the planning and development of a retail CBDC, aligning with its overarching strategy of forming strong partnerships with financial institutions and central banks worldwide.
In terms of market performance, XRP is currently trading at approximately $0.4736, experiencing a 3.02% decrease in the past 24 hours, as reported by CoinMarketCap. XRP has also shown a bearish trend over the past week, declining by 3.13%. The perception of XRP’s growth potential is influenced by these market dynamics.
Previous reports have highlighted Ripple’s potential to become a billion-dollar enterprise, citing the success stories of tech giants like Amazon and Facebook.
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