The BRICS economic bloc, which includes Brazil, Russia, India, China, South Africa, plus new additions like Egypt, United Arab Emirates, Ethiopia, Iran, and Indonesia, unveiled BRICS Pay in August 2025. This digital payment system draws inspiration from Brazil’s successful Pix system. BRICS Pay aims at mitigating the reliance on the US dollar in international transactions. The launch signifies a strategic move by these countries to enhance financial autonomy and reduce exposure to currency risks. This innovative system is anticipated to streamline cross-border transactions among BRICS members and strengthen economic ties within the bloc.
BRICS Launches Global Payment System Inspired by Pix to Reduce Dollar Dependency
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