BRICS Pay: A Game-Changer for Global Disruption

EDITOR'S NOTES

BRICS just dropped a bombshell, announcing their new blockchain-based payment system aimed at shaking up global trade and sidelining the US dollar. With Russian President Putin touting its potential to bypass sanctions and SWIFT, this project could redefine how nations within the alliance settle international trade. As excitement builds ahead of next month’s summit, concerns are mounting, this could be the spark that ignites a deep and multipolar financial divide.

Derek Wolfe Sep 30, 24

BRICS Unveils New Payment System: Key Details Revealed

The BRICS alliance has officially announced its blockchain-based payment system while unveiling new details on its development. Indeed, Russian President Vladimir Putin discussed the project that is nearing arrival. Moreover, he announced certain details that could fortify its position as a game-changer in global trade.

There are rumors that the project could officially go live during next month’s annual summit. The 2024 iteration of the event should be centered on the bloc’s de-dollarization efforts. Additionally, there is likely to be talk of continued expansion for the bloc after it increased its member count to nine countries in 2023.