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Russian President Vladimir Putin has emphasized the need for independent financial systems within BRICS, focusing on developing an alternative to Swift. He addressed the idea of a shared BRICS currency but urged caution, noting that itās not yet fully developed. His remarks hinted at careful, delibeā¦
Adopting crypto has been one of the key discussions among BRICS member states in a business forum held in Moscow on Friday. The BRICS (BrŠ°zil, RussiŠ°, IndiŠ°, ChinŠ°, Š°nd South AfricŠ°) bloc seeks to reduce its reliance on Western financial systems by introducing an alternative payment system to the SWā¦
Russian President Vladimir Putin has unveiled a plan to introduce digital currencies as a key tool for investment for the BRICS alliance. This proposal aims to boost economic growth in developing nations, with a focus on minimizing inflationary risks. By involving BRICS members and other developing ā¦
BRICS is emerging as a potential alternative to the World Bank and International Monetary Fund (IMF), challenging the dominance of Western-led financial institutions, according to Cubaās Permanent Representative to the United Nations. With major economies like China and Russia among its members, BRIā¦
Russian President Putin announced that the BRICS bloc has officially adopted cryptocurrencies for investments, a move seen as a potential game-changer, coinciding with the upcoming BRICS Summit 2024 and the introduction of the blockchain-based BRICS Pay platform.
Putin confirms BRICS will discuss using digital currencies to foster investment and reduce US dollar reliance. The post Putin confirms BRICS will explore digital currencies for investment development appeared first on Crypto Briefing.
The development of BRICS Pay is part of broader de-dollarization efforts, with Russia and China leading initiatives to create financial independence from the U.S. dollar. As BRICS expands to include nations like Saudi Arabia, Egypt, and the UAE, BRICS Pay could play a key role in international projeā¦
Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to adā¦
The Republic of Cuba has reportedly asked Russia if it can join the BRICS alliance, the coalition thatās competing against the US dollar hegemony. In a post on the social media platform X, Cuban ambassador and foreign minisiter Carlos M. Pereira says the country officially asked Russian president Vlā¦
Chinaās trade with BRICS countries surged by 5.1% year-on-year, reaching 4.62 trillion yuan (approximately $653 billion) in the first three quarters of 2024. Officials emphasized the importance of BRICS as a crucial platform for developing nations to collaborate, particularly in sectors like steel aā¦
BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states, signaling a strategic shift to reduce dependency on Westeā¦
The BRICS alliance is reportedly considering a new āpetroyuanā in its latest move to compete with the world dollar hegemony. BRICS, which was originally launched as a coalition of Brazil, Russia, India, China and South Africa, has since welcomed several other countries into its union and is looking ā¦