- Brazil, which has the chair of the BRICS states, drives digital payment solutions to reduce the dependence on western financial systems such as Swift.
- Inspired by Brazil’s Pix, the proposed system should enable direct transactions and at the same time minimize dependence on the US dollar.
Brazil, which is now at the top of the BRICS countries, attracts great attention with a new agenda for the introduction of cryptocurrencies. As the new president of the block, the state is researching digital payment solutions in order to reduce the dependence on western financial systems, including Swift. Officials believe that this could rationalize transactions and strengthen financial autonomy.
The step is in line with a more comprehensive strategy for creating an independent clearing and custody system for the member countries. Brazil is at the head of the efforts to make digital handling a practical alternative – a development that could significantly influence the dynamics of world trade. Since Brazil is now the presidency, this proposal is at the top of the agenda.
BRICS in the Trump Era: A Changing World Order
The BRICS bloc, which comprises Brazil, Russia, India, China, and South Africa – along with new members like Iran, Saudi Arabia, the UAE and others, is gradually expanding its influence in the global arena.
The bloc, especially… pic.twitter.com/m0z6392iRL
— The GEOSTRATA (@TheGeostrata) March 13, 2025
Die Lokalzeitung O Globo reportedThe fact that this initiative aims to accelerate the financial transactions between the BRICS countries. It is even more important that it should reduce the dependence on dominant foreign currencies such as the US dollar, which historically played a central role in global trade.
BRICS trading without thinking again without the dollar
A common Brics currency has been speculated for years. Some experts, including the economist Jim Rickards, once beat one Currency laid by goldbefore to challenge the dollar. However, the heads of state and government of the BRICS countries have taken a different path and rely on an efficient digital payment system instead of a common physical currency.
A possible model that is currently being discussed is similar to the Brazilian Pix system that works via various digital networks, but is still bound to national fiat currencies (we reported ). However, the implementation could make it difficult to comply with sovereignty and the different legal framework. In contrast to conventional methods, this system would enable quick, direct transactions without excessive bureaucratic obstacles.
Russia has particularly emphasized this initiative. The Russian Foreign Minister Sergei Lavrov confirmed that President Luiz Inácio Lula da Silva is at the forefront of discussions about cross -border digital bills. The Brazilian leadership also checks the creation of a cross-border payment infrastructure and a BRICS-Rückversicherungsgesellschaft.
Russia’s blockchain ambitions and the role of Brics Pay
The advance for digital handling follows a trend that Russia has long supported. In 2024 struck Moscow A blockchain-based payment system beforeto reduce the dependency on the US dollar. This initiative did not prevail immediately, but it seems to have influenced Brazil’s recent efforts within the BRICS countries.
A central element of the puzzle is BRICS Paya decentralized financial news system that has been in operation since 2018. The platform enables direct transactions between the BRICS countries using local currencies and by circumventing traditional financial intermediaries. By eliminating a central control point, BRICS PAY strengthens transaction safety and lowers the costs.
Despite this dynamic, not all parties are completely on board. Donald Trump has that BRICS countries 100% Import-Zölle anthreatened if you try to get away from the dollar. This illustrates the potential economic and political friction that could cause such a transition on the global stage.
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