BRICS Pushing Forward With Digital Cross-Border Payment System, Russia's Finance Minister Confirms

^{Published on 2025-03-27 07:00:59 - CCN}

Russia is spearheading BRICS's push for a cross-border payment system using national currencies and digital assets. The initiative aims to strengthen BRICS's financial infrastructure and

The BRICS countries (Brazil, Russia, India, China, and South Africa) are actively developing a digital payment system aimed at facilitating cross-border transactions among themselves, as confirmed by Russian Finance Minister Anton Siluanov. This initiative seeks to reduce reliance on the US dollar and other Western financial systems, enhancing economic sovereignty and efficiency in trade. The system is part of a broader strategy to foster financial independence and could potentially expand to include other nations interested in joining the BRICS bloc. The development of this payment system is seen as a move towards de-dollarization and is expected to be discussed further at the upcoming BRICS summit in South Africa.

Read the Full CCN Article at:
[ https://www.msn.com/en-us/money/economy/brics-pushing-forward-with-digital-cross-border-payment-system-russia-s-finance-minister-confirms/ar-AA1BLo05 ]

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BRICS Pushing Forward With Digital Cross-Border Payment System, Russia's Finance Minister Confirms