BTCC
/
BTCC Square
/
Global Cryptocurrency
/
BRICS: 2 Countries Ready to Ditch SWIFT and Launch New Payment System
BRICS: 2 Countries Ready to Ditch SWIFT and Launch New Payment System
11
3
BRICS members Russia and Iran are planning to abandon the Western-dominated payment messaging system SWIFT. They aim to launch a new payment system as an alternative to the SWIFT mechanism, which is controlled by the US. This move is part of their effort to reduce reliance on the US dollar for cross-border trade and transactions. The new system could strengthen local currencies and potentially become the de facto currency for trade among BRICS nations and other developing countries.
Previous
Perplexity AI Proposes Merger with TikTok US
Next
Gate US CEO Invited to U.S. Presidential Inauguration and Inaugural Week Events
