Ripple Shows Support for Thailand’s Potential Adoption of XRP in a Letter to Thai Authorities
Ripple has expressed its admiration for the Bank of Thailand’s leadership in Central Bank Digital Currency (CBDC) research and has offered its support. Well-known cryptocurrency community member Armando Pantoja recently highlighted Ripple’s impressive growth initiatives, specifically mentioning the possibility of Thailand utilizing XRP. Pantoja also noted that BRICS countries, including Thailand, appear to be increasingly interested in XRP.
In a tweet, Pantoja revealed that Thailand is in discussions with Ripple regarding the adoption of XRP and has applied to join BRICS, indicating the growing interest in XRP among BRICS nations.
Pantoja shared a copy of Ripple’s letter to Thai officials, which stated that Thailand is the latest country in talks with Ripple about adopting XRP. Pantoja suggested that Thailand’s bid to join BRICS may be connected to its interest in the cryptocurrency, highlighting a broader geopolitical interest in XRP.
In the letter, Ripple thanked readers for the opportunity to provide input on a Bank of Thailand discussion paper titled “The Way Forward for Retail Central Bank Digital Currency in Thailand.” Ripple commended the thorough investigation and analysis of CBDC in Thailand presented in the paper. The letter also highlighted the nation’s efforts to explore and potentially implement a retail CBDC.
Ripple emphasized the importance of public-private collaborations and expressed gratitude to the Bank of Thailand for its leadership in the CBDC space. The letter stated that Ripple would be pleased to assist the Bank of Thailand in the planning and development of a retail CBDC, aligning with its broader strategy of establishing strong partnerships with financial institutions and central banks worldwide.
Currently, XRP is trading at approximately $0.4736, experiencing a 3.02% decrease in the last 24 hours, according to CoinMarketCap data. Over the past seven days, XRP has shown a bearish trend, declining by 3.13%. The market dynamics surrounding XRP will play a significant role in the perception of Ripple’s growth.
Previous CNF publications have highlighted Ripple’s potential to become a billion-dollar business, drawing comparisons to tech giants like Amazon and Facebook.
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