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

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, BRIC

A Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offering better financial terms to developing nations. He emphasized the NDB’s role in helping countries li

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 ahe

The Republic of Cuba has reportedly asked Russia if it can join the BRICS alliance, the coalition that’s competing against the US dollar hegemony. In a post on the social media platform X, Cuban ambassador and foreign minisiter Carlos M. Pereira says

China’s 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

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, signali

The members of the CIS alliance have started conducting trade settlements in local currencies. The goal remains to alleviate the strains from over-dependence on the US Dollar. The Commonwealth of Independent States (CIS), consisting of 12 countries,

China has reaffirmed its commitment to closer relations with Russia through major international platforms like BRICS and the Shanghai Cooperation Organization (SCO). At an event celebrating 75 years of diplomatic relations, State Councilor Shen Yiqin

The BRICS alliance is reportedly considering a new “petroyuan” 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 seve

BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan su

Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on trad

The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that can

BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct economic activities without relying on

Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing updates on BRI

China and South Africa committed to deepening cooperation within the BRICS framework during South African President Cyril Ramaphosa’s second state visit to China, where he met with Chinese President Xi Jinping. The leaders emphasized the importance o

Turkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s administration views the shifting ge

First announced in March of this year, the BRICS Pay platform has garnered a lot of attention. Developed…

Bitcoin is a lot of things, but can it be the solution BRICS is looking for?