UAE and India use XRP not US dollar in historic oil trade | Cryptopolitan
1 min read
India paid for oil from the UAE using their local currencies, but the transaction was run through the XRP Ledger System. This system reportedly even rewards users with CryptoTradingFund (CTF) tokens as cashback.
The BRICS nations, which now include the UAE after its membership expansion in 2024, are leading the charge to de-dollarization. The motivation is clear: they want economic independence.
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