Beyond the Dollar: BRICS Payment System Set for 2025 Launch in Brazil

Brazil will spearhead the development of secure payment systems within BRICS in 2025, President Lula da Silva announced, aiming to reduce reliance on Western financial networks.

This initiative, part of Brazil’s BRICS presidency agenda, seeks to enhance economic cooperation and expand trade among member states. Lula da Silva emphasizes the need for transparent and safe payment mechanisms, acknowledging the challenges of coordinating efforts to strengthen financial infrastructure and promote dedollarization.

This move reflects BRICS’s growing focus on alternative payment systems, particularly following sanctions against Russia, and positions the bloc as a significant player in reshaping the global financial landscape.

Clever Robot News Desk 1^st March 2025