The BRICS economic bloc, comprised of Brazil, Russia, India, China, South Africa, and new members like Egypt, United Arab Emirates, Ethiopia, Iran, and Indonesia, introduced BRICS Pay in August 2025. This digital payment system draws inspiration from the successful Brazilian payment system, Pix. With the goal of reducing dependency on the dollar, BRICS Pay aims to facilitate international transactions among its member countries. By creating this innovative payment system, BRICS is taking significant steps towards financial independence and strengthening economic ties within the bloc.
BRICS Launches Innovative Global Payment System Inspired by Pix to Reduce Dependence on Dollar
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