According to ChainCatcher, recently, during the 16th meeting of BRICS leaders held in Kazan, Russia, information about the joint launch of a decentralized multilateral cross-border payment system - BRICS Pay - by BRICS countries spread online, claiming that a pilot project would start in China. Searching for 'BRICS Pay', one could even find a seemingly legitimate 'official website' available in both English and Chinese.
However, Caixin's inquiry found that the multiple authoritative media reports claimed by the 'official website' are actually just spread through some self-media articles, with unclear sources. News about BRICS Pay has also appeared on cryptocurrency news websites such as Bitcoin.com.news, Cointelegraph, and CCN (Chinese Community Network), rather than official media reports.
Caixin learned from relevant departments that China's monetary authorities are not aware of the so-called 'BRICS Pay', have not participated in it, and there is no claim of a pilot project starting in China. The dissemination of information about 'BRICS Pay' through informal channels is more of a false message spread by the cryptocurrency community to hype a certain cryptocurrency, and the so-called 'official website' is also a fraudulent 'scam site'.