Crypto researcher SMQKE highlighted a specific detail from a BRICS economic report, noting that the XRP Ledger is directly cited within the document. In the post, SMQKE stated that “the XRPLedger is explicitly cited in an official BRICS report on the development of a BRICS cryptocurrency” and emphasized that the mention is documented. The observation is based on a section of the report that discusses smart contracts, escrow-like systems for trade finance, and blockchain-based mechanisms to improve settlement efficiency. The report references “XRP Ledger, 2020” in this context, indicating that its escrow model was considered when evaluating options for cross-border trade finance infrastructure. The XRPLedger is explicitly cited in an official BRICS report on the development of a BRICS cryptocurrency. Documented. https://t.co/AsnW6Lxilz pic.twitter.com/Au3QkYFoc3 — SMQKE (@SMQKEDQG) September 1, 2025 Details from the report page The document itself outlines how BRICS countries have studied distributed ledger technology and blockchain to strengthen operational efficiency in trade settlements. It states that in 2019, the BRICS Business Council created a working group to explore a trade-facilitating cryptocurrency. At the same time, it stresses that meeting BRICS goals for de-risking national currency trade settlements does not necessarily require the creation of a new, specialized cryptocurrency for document flow. Instead, the report highlights the role of smart contracts as a key tool to automate processes, verify fulfillment criteria, and disburse payments through external verification mechanisms such as oracles. Within this explanation, the document cites the XRP Ledger as an example of how funds can be stored in a virtual escrow account to guarantee availability at the time of contract execution. Neo’s response to SMQKE Following SMQKE’s post, another user, Neo, acknowledged the reference but pointed out additional context. Neo explained that the same report also references the need for an “in-house smart contract system” for BRICS. This raises the possibility that while XRPL is cited as a technical example, BRICS may instead be considering the development of its own dedicated blockchain infrastructure. Neo questioned whether BRICS would opt to build a proprietary blockchain from the ground up or instead operate a permissioned version of an existing framework. Implications of the two points The posts together highlight two important aspects of the document. First, that XRPL is indeed cited within an official BRICS publication in relation to escrow and smart contract functionality. Second, the report also references a path toward building an internal smart contract system, which suggests BRICS could ultimately pursue a controlled, consortium-style platform designed specifically for its member states. This approach would give BRICS flexibility over governance, compliance, and customization while still acknowledging existing blockchain systems as relevant technical references. Further context of the document The excerpt also addresses the benefits of smart contracts for trade finance, including reduced settlement times, cost savings, and minimization of errors and disputes. It contrasts existing Western trade finance systems with the possibility of BRICS creating its own framework to avoid reliance on Western-dominated settlement rails. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 The reference to XRPL fits within this wider analysis as one of several examples of blockchain technology capable of supporting escrow and automated disbursement mechanisms. SMQKE’s post focuses on the verifiable fact that the XRP Ledger is explicitly mentioned in a BRICS document on digital trade settlements. The document positions smart contracts as central to BRICS’ long-term plans for trade finance, with XRPL noted as part of the technical landscape under review. 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. Follow us on X , Facebook , Telegram , and Google News The post XRP Ledger Is Explicitly Cited in an Official BRICS Report. Here’s why appeared first on Times Tabloid .
