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Thailand to Join BRICS and Adopt Ripple’s XRP, Could This Trigger XRP Price Surge?

source-logo  cryptonewsland.com 23 June 2024 10:27, UTC
  • Bangkok seeks to join BRICS, aiming for strategic space without compromising U.S. ties.
  • Thailand explores adopting Ripple’s XRP, recognizing digital assets’ importance in Asia.
  • Thailand’s moves reflect determination to navigate complex currents.

Bangkok, the vibrant capital of Thailand, has recently stepped into the long queue of countries vying for membership in BRICS. Additionally, Thailand is the latest country pursuing talks about adopting Ripple’s XRP.

🚨 Breaking : Thailand 🇹🇭 is the latest country in talks with @Ripple about adopting $XRP and has just applied to join #BRICS.

Looks like #BRICS nations are all about that #XRP 👇🏽 pic.twitter.com/OAPFhVdvux

— Armando Pantoja (@_TallGuyTycoon) June 22, 2024

BRICS is an international organization founded by Brazil, Russia, India, China, and South Africa. While Thailand is the first Southeast Asian nation to formally request admission, it joins a larger group of countries that have already become full members, including Egypt, Ethiopia, Iran, and the United Arab Emirates.

A Strategic Move for Thailand

Thailand’s bid to join BRICS is not merely symbolic; it reflects the country’s strategic vision. As China becomes an increasingly important security partner, Thailand seeks to maximize its strategic space without compromising its close ties with the United States.

Prime Minister Srettha Thavisin aims for rapprochement with the U.S. while maintaining strong relations with China. This pragmatic approach involves diversifying global sources of growth and hedging bets in multiple places.

Thailand’s recent economic and foreign policy decisions underscore this balancing act. While pursuing BRICS membership, Bangkok actively engages in the U.S.-led Indo-Pacific Economic Framework.

The country eagerly seeks investment from U.S. semiconductor firms diversifying production away from China to Southeast Asia. Simultaneously, military cooperation with the U.S. remains robust, surpassing that with China in scale and frequency.

Desire to Adopt Ripple’s XRP

Thailand’s ambitions extend beyond BRICS. The country is also pursuing talks about adopting Ripple’s XRP. These actions demonstrate that Thailand is not isolating itself from the U.S.

Thailand’s bid for BRICS membership reflects its determination to navigate complex geopolitical currents. On the other hand, the country’s desire to adopt XRP shows the increasing recognition of digital assets in Asia.