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BRICS Bank Accelerates De-Dollarization with Blockchain-Based Payment System
BRICS Bank Accelerates De-Dollarization with Blockchain-Based Payment System
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Russia is spearheading a global de-dollarization push through the BRICS New Development Bank, leveraging its $100 billion capital base to finance infrastructure projects outside traditional USD systems. The Shanghai-based institution has become Moscow’s primary vehicle for currency substitution initiatives across member nations.
A new blockchain-powered cross-border payment system is taking shape, enabling BRICS central banks to settle trades using digital tokens backed by local currencies. Russian President Vladimir Putin confirmed the coalition’s pragmatic approach to developing alternative financial infrastructure, marking a strategic shift away from Western payment networks.
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