BRICS Strikes Back: Latin America’s First CIPS Bank Accelerates US Dollar Exodus
BRICS nations just leveled up their dollar-ditching game—and Wall Street's not invited.
The seismic shift:
Latin America's maiden Cross-Border Interbank Payment System (CIPS) bank went live this week, greasing the skids for BRICS countries to bypass dollar-dominated trade. No more playing by Swift's rules—this is financial sovereignty on steroids.
Why it matters:
• CIPS adoption cuts transaction times from days to seconds
• Yuan-based settlements avoid 3.5% average dollar conversion tax
• Petrobras-to-Gazprom energy deals now bypass Western sanctions
The kicker? This comes just as the Fed's 'strong dollar' policy starts smelling like last week's fish. BRICS isn't just diversifying—they're building an entire parallel financial universe while DC bureaucrats still think 'blockchain' is a bike accessory.
How BRICS De-Dollarization, Payment Systems, And CIPS Reshape Trade
Brazilian Bank Pioneers BRICS US Dollar Exit
One Brazilian bank has become Latin America’s first financial institution to use China’s Cross-Border Interbank Payment System for trade between Brazil and China. This development strengthens BRICS de-dollarization efforts as the CIPS network reaches over 1,300 financial institutions across 110 countries right now.
BOCOM-BBM’s transition to the BRICS payment system represents a significant shift away from traditional dollar-based transactions. This MOVE also supports broader BRICS trade currency initiatives that are reducing dependency on Western financial infrastructure.
BRICS US Dollar Share Plummets to One-Third
Russian Foreign Minister Sergey Lavrov announced major changes in BRICS trade patterns during meetings in Rio de Janeiro.
Lavrov stated:
This represents a dramatic acceleration in BRICS de-dollarization efforts. The BRICS payment system development continues advancing as finance ministers work on independent payment mechanisms. BRICS trade currency adoption is expanding across member nations and fundamentally altering global commerce patterns.
BRICS Pay System Accelerates BRICS US Dollar Replacement
Progress on BRICS Pay system development is accelerating rapidly, and this supports continued BRICS de-dollarization efforts.
Lavrov also said:
The BRICS payment system will facilitate trade using local currencies, providing an alternative to Western-controlled networks. This infrastructure development also strengthens BRICS trade currency adoption across member nations.
Trump Threatens Tariffs Over BRICS US Dollar Challenge
Despite expansion in BRICS membership, the TRUMP administration has issued threats regarding BRICS de-dollarization efforts.
Trump stated:
However, BRICS expansion continues with Thailand, Malaysia, and Indonesia joining as members. The BRICS payment system development proceeds despite these threats, as nations prioritize financial sovereignty. BRICS trade currency initiatives remain active across all member countries.
Western Criticism Fuels BRICS US Dollar Exit
BRICS officials have criticized Western financial policies while advancing their BRICS de-dollarization agenda.
Lavrov was clear about the fact that:
Brazilian President Luiz Inacio Lula da Silva emphasized multilateralism during BRICS meetings.
Lula said:
BRICS payment system development further progresses, as a country creates alternative financial infrastructure. The shift in trade currency is the radical alteration in world money’s system and the first bank in the CIPS in Latin America is only the beginning of this process.
