BRICS Announces Creation of Digital Currency Payment System Based on Blockchain
BRICS, a group of nine nations including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates, has announced plans to create an independent payment system based on digital currencies and blockchain technology. The move is part of the BRICS Contingent Reserve Arrangement framework, which aims to protect against global liquidity pressures and reduce reliance on the US dollar. The payment system will be designed to be convenient, cost-effective, and free from political influence. The BRICS CRA is seen as a competitor to the International Monetary Fund, and recent reports suggest that the group is also working on a multisided payment platform called the BRICS Bridge.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Will Bitcoin Reach $105K? The Potential Impact of Liquidity Injections on Bullish Surge
Exploring the Potential Influence of Global Liquidity on Bitcoin's Ascension to a New High

Leverage-Driven Pump: How Bitcoin Long Traders Could Become Trapped
Unpacking the Perils and Potential of Leverage-Driven Bitcoin Pump for Long Traders

Despite Bitcoin’s Decline, Tom Lee Maintains BTC Will Still Be the Year’s Best Bet
Trending news
MoreCrypto prices
More








