- BRICS nations officially referenced XRP Ledger technology in trade finance documentation.
- This marks the first formal acknowledgment by a major economic bloc representing 40% of the global population.
The BRICS economic alliance has recognized XRP Ledger technology in official documentation discussing the use of blockchain in facilitating cross-border trade settlements. An official BRICS report on creating a potential BRICS cryptocurrency specifically mentions the XRP Ledger (XRPL) as an important institutional recognition of the blockchain platform.
Crypto analyst SMQKE disclosed the BRICS report, which mentions XRP Ledger features as member countries evaluate alternatives to traditional payment systems. The report discusses the use of blockchain in trade finance and implements virtual escrow systems as an automated payment system.
🚨 🚨 🚨 🚨 🚨:
BRICS report cites XRP Ledger for cross border trade. 📃 🪙 💰 🇺🇸 #XRP #RLUSD #XRPETF 💎 💎 💎 💎 💎 💎 💎 💎 💎 💎 pic.twitter.com/3tSQBA8kpO
— Kenny Nguyen (@mrnguyen007) September 3, 2025
The BRICS alliance covers about 40% of the world population, its member countries being Brazil, Russia, India, China, and South Africa. The countries are considering the establishment of a common e-currency that will help them to eliminate reliance on Western-dominated financial systems.
Technical Infrastructure Evaluation
The report points out that cross-border trade processes can be automated using the smart contract functionality of the XRP Ledger to increase the efficiency of the settlement process. BRICS documentation features the platform’s escrow model of raising funds until the contractual requirements are met.
XRP Ledger is a decentralized blockchain that was launched in 2012. XRPL takes less than five seconds to settle transactions, fees are as low as $0.00002 per transaction, and it has the potential to reduce costs by up to 90% compared to traditional systems.
ODL settled over 300 financial institutions $1.3 trillion in cross-border payments in Q2 2025. This performance history reveals the platform’s ability to support institutions’ transaction volumes.
The consensus mechanisms employed in the blockchain are that validating nodes collectively verify transaction integrity. Validators analyze the transactions and avoid fraud before validating entries to permanent ledger blocks. This architecture has no significant security incidents in its history of operations.
BRICS Pay Development Strategy
BRICS documentation relates the evaluation of XRP Ledger with the rest of the BRICS Pay development efforts. These are efforts to create decentralized blockchain payment systems that minimize the use of SWIFT networks and exposure to the US dollar in global trade.
The report also mentions how an in-house smart contract system is necessary, and that BRICS could explore developing a proprietary blockchain in addition to the existing platforms. This two-pronged strategy implies an in-depth evaluation of the two possible blockchain infrastructure choices: public and private.
The BRICS Business Council has had working groups since 2019 that look at the role of cryptocurrency in trade facilitation. These programs are part of wider de-dollarization programs among member countries that want alternative settlement systems.
BRICS is considering the option of a gold-backed financial system in which XRP would be used as an intermediary currency to conclude a trade with gold reserves as a compliance and audit tool. This model would establish payment rails that are independent of the traditional Western financial infrastructure.
At the time of writing, XRP is trading at $2.80, down 1.53% in the last 24 hours.
