- Growing Interest in BRICS Payment System
- Potential Gold-backed Currency
- Exploring Cryptocurrencies and Blockchain in BRICS
Just weeks after the announcement of the BRICS Payment System, it has attracted global interest. A Russian official revealed that 159 countries have shown interest in adopting the system, which might be launched in October.
Growing Interest in BRICS Payment System
The surge in interest in the new BRICS payment system is linked to expectations that the U.S. might weaponize the SWIFT system against countries with tense relations with America.
Potential Gold-backed Currency
Among the discussions within BRICS, the possibility of creating a gold-backed currency is being explored. This initiative could significantly impact global financial markets.
Exploring Cryptocurrencies and Blockchain in BRICS
BRICS is also exploring the use of cryptocurrencies and blockchain for cross-border trade, with Russia leading in cryptocurrency adoption.
The BRICS payment system and the opportunities it opens up could significantly impact the global financial landscape and challenge the dominance of the U.S. dollar.
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