The Brics group, which consists of 11 emerging nations, introduced Brics Pay, a payment system inspired by Brazil’s Pix, with the goal of reducing reliance on the U.S. dollar in global trade. Set to be operational by 2025, this system aims to facilitate quick, secure cross-border transactions and minimize currency exchange costs for member countries. By leveraging technology similar to Brazil’s successful Pix system, Brics hopes to streamline payments and promote financial autonomy among its members.
Brics Launches Pix Global to Reduce Costs and Dollar Reliance
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