The utility of XRP is becoming more evident on the global scene, with top Indian Banks now exploring the utility and potential of the XRPL.
According to crypto influencer Amelie, Indian financial institutions are experimenting with private ledgers using XRP for interbank transactions. This move could profoundly develop India’s financial infrastructure, especially as the country advances its digital currency plans.
Indian Banks Exploring XRP for Payments
In a recent X post, digital asset influencer Amelie revealed that a fintech event in India featured discussions on the role of blockchain in banking. A video attached to the post shows a speaker confirming that Indian financial institutions are collaborating with Ripple’s CBDC platform.
WOW! 💥
BANKS IN INDIA ARE CONDUCTING PRIVATE LEDGER TESTS WITH #XRP TO ENABLE EFFICIENT MONEY TRANSFERS BETWEEN BANKS! 🏦
INDIA IS ALSO A MEMBER STATE OF BRICS! 🇮🇳 #XRP 🤝🏼 INDIA 🤝🏼 BRICS pic.twitter.com/2egSFa9jvJ
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) March 28, 2025
While the Republic of India has already made remarkable progress with its central bank digital currency (CBDC), consultations with smaller nations on how to implement digital currencies are ongoing.
Using private ledgers built on XRP technology could provide conventional financial institutions with a more sustainable and efficient way to handle cross-border and domestic transactions. These ledgers provide scalability and lower costs, making them appealing for banks to adopt in their transaction prerogatives.
Nevertheless, since the trendy post, Indian regulators or major banks have not officially confirmed the large-scale adoption of XRP for banking operations.
Ripple has collaborated with central banks to develop CBDCs and enhance payment systems. Its mention in India’s fintech discussions signals potential integration, though regulatory approval is crucial. Meanwhile, the crypto community continues to debate whether Ripple Labs’ private CBDC ledger directly uses XRP.
BRICS and India’s Digital Currency Move
India is a leading economy in the BRICS group, which includes Brazil, Russia, China, and South Africa. In recent times, the group has been exploring alternatives to traditional financial systems to strengthen its economic independence.
Per the update, If Indian financial services integrate private XRP-ledger solutions, it could align with broader BRICS efforts to modernize payment systems.
While India is cautious about digital assets, it continues to develop its CBDC. The Reserve Bank of India (RBI) is running digital rupee trials, and any partnership involving XRP would likely be structured within regulatory guidelines.
In January, Germany-based DekaBank announced its plan to utilize Ripple Labs Inc.’s Custody solution to provide crypto trading and custody services for its institutional clients.
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