At the recent BRICS summit in Kazan, Russian Finance Minister Anton Siluanov shared plans for a new BRICS payment system that will integrate digital financial assets (DFA) and provide financial messaging capabilities.
This multicurrency system aims to reduce reliance on the U.S. dollar by supporting alternative digital assets like central bank digital currencies and tokenized metals for international trade, potentially serving as an alternative to SWIFT.
Siluanov emphasized the importance of this new system for the bloc, especially given concerns about the politicization of existing global financial messaging networks.
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