"BRICS Accelerates Push for Digital Currency... Aiming for Launch Next Year"

The BRICS alliance is intensifying efforts to establish a digital currency system. Although an official release date has not been announced, analysis indicates that recent summits and the development of technological infrastructure reveal a clear trajectory with the aim of launching next year.

According to the virtual asset (cryptocurrency) specialized media outlet Coindoo on the 25th, the BRICS summit held in Brazil in July recently discussed expanding BRICS Pay and cooperation to increase the share of payments made in national currencies. This is interpreted as part of a strategy particularly aimed at reducing dependence on the dollar in energy and commodity trading.

BRICS member states are also reportedly accelerating the expansion of bilateral trade using their own currencies. India is currently promoting rupee-based settlements among Global South countries, while Russia and China have already actively adopted non-dollar trading systems. The digital currency framework is being developed around cross-border payment systems based on blockchain and integrated research into central bank digital currencies (CBDC).

Meanwhile, BRICS is an alliance of emerging economies named after the initials of Brazil, Russia, India, China, and South Africa. The alliance has expanded its influence by admitting new members, such as India and Saudi Arabia, and has challenged the United States and other Western developed countries. Within the BRICS bloc, there have been ongoing calls, particularly led by Russia and China, to find alternatives to the dollar.