Brazil’s blockchain plan for BRICS nations

Brazil has unveiled a blockchain-powered payment system for BRICS trade, shifting away from earlier plans for a common currency, Rio Times reports.

As the 2025 BRICS chair, Brazil is prioritising direct transactions in local currencies—eliminating the need for USD conversions. This move aims to:

✅ Lower transaction costs
✅ Speed up cross-border payments
✅ Strengthen financial autonomy

 

 

 

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