BRICS, Mata Uang BRICS

The BRICS countries' commitment to using currencies other than the USD became even more solid when all BRICS countries agreed to fight USD domination. Read more here.

BRICS Countries Ready to Use New Currency for Transactions

<img src="https://static.bittime.com/cms-static/upload/BRICS_Countries_Ready_to_Use_New_Currency_for_Transactions_58238aaa6d.jpg" alt="BRICS Countries Ready to Use New Currency" width="2048" height="1152"><meta charset="utf-8"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> - Information about the BRICS currency plan is still widely heard, considering its vision to fight dollar domination.Based on the latest information from the BRICS Summit held in Kazan, Russia, October 2024, all BRICS countries stated that they were ready to use&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/mata-uang-brics-penjelasan-dan-urgensinya">BRICS currency</a> for transactions.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?cn=400001"><img class="image_resized" style="aspect-ratio:601/301;width:100%;" src="https://static.bittime.com/cms-static/upload/join_registrasi_lucky_draw_2a7ca2565e.webp" alt="join registrasi lucky draw.webp" width="601" height="301"></a><h2 style="line-height:1.7999999999999998;margin-bottom:10pt;margin-top:18pt;text-align:justify;" dir="ltr">Commitment of Leadrs of BRICS Countries</h2>BRICS leaders pledged to build an innovative local currency-based payment network at the 16th BRICS Summit held in Kazan, Russia.&nbsp;During the meeting, they emphasized the importance of creating a more integrated financial system among member countries, with a primary focus on cross-border transactions using local currencies.Based on a statement released on Thursday, October 24, BRICS confirmed its commitment to strengthening financial cooperation between members.&nbsp;<figure class="image"><img style="aspect-ratio:830/336;" src="https://static.bittime.com/cms-static/upload/BRICS_Summit_18f9af455f.webp" alt="BRICS Summit" width="830" height="336"></figure>Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/brics-dedolarisasi-dan-dampaknya-bagi-kripto">BRICS, Dedollarization and Its Impact on Crypto</a>The statement highlights the benefits of faster, cheaper, more efficient, transparent, secure and inclusive cross-border payment instruments, while prioritizing the principles of reducing trade barriers and non-discriminatory access.&nbsp;BRICS leaders also welcomed the use of local currencies in financial transactions among BRICS countries and their trading partners.<h2 style="line-height:1.7999999999999998;margin-bottom:10pt;margin-top:18pt;text-align:justify;" dir="ltr">The Vital Role of the New Development Bank in BRICS</h2>The New Development Bank (NDB) is recognized as an important institution in supporting infrastructure and sustainable development in its member countries.&nbsp;BRICS leaders highlighted the NDB's key role in strengthening infrastructure and sustainability, while expressing full support for the NDB's steps to expand local currency-based financing and foster innovation in investment and financing tools.Referring to the context of the NDB's General Strategy for 2022-2026, the BRICS leaders emphasized the importance of strengthening corporate governance at the NDB to face the growing financial demands across the BRICS network.<a target="_blank" rel="noopener noreferrer" href="https://support.bittime.com/hc/id/articles/10949596921487-Waktunya-Cuan-Seru-Auto-Earn-20-APY-untuk-Koin-Hype-di-Bittime?cn=400001"><img class="image_resized" style="aspect-ratio:600/338;width:100%;" src="https://static.bittime.com/cms-static/upload/OPS_Auto_Earn_2648e95eef.webp" alt="OPS - Auto Earn.webp" width="600" height="338"></a><h2 style="line-height:1.7999999999999998;margin-bottom:10pt;margin-top:18pt;text-align:justify;" dir="ltr">BRICS Currency Working Mechanism</h2>BRICS leaders welcomed the important role of the Interbank Cooperation Mechanism (ICM) in supporting financial innovation for projects and programs, especially in developing financing mechanisms that enable the use of local currencies.&nbsp;They expressed ICM's commitment to expanding innovative financial practices among member countries.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/mata-uang-brics-menantang-dominasi-dollar">BRICS Currencies Challenge Dollar Dominance</a><h3 style="line-height:1.7999999999999998;margin-bottom:10pt;margin-top:16pt;text-align:justify;" dir="ltr">Further Steps of the BRICS Countries</h3>The leaders of the BRICS countries also instructed finance ministers and central bank governors to continue evaluating the use of local currencies, payment instruments and related platforms, and report on developments during the term of the next BRICS President.&nbsp;This focus on collaborative financial structures demonstrates BRICS' ambition to build a strong and integrated financial network, supporting growth and stability in emerging markets.<h2 style="line-height:1.7999999999999998;margin-bottom:10pt;margin-top:18pt;text-align:justify;" dir="ltr">How to Buy Crypto on Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://play.google.com/store/apps/details?id=com.bittime.currency.exchange&amp;hl=id?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Cara_Beli_NEW_e4ecd75e9d.webp" alt="Cara Beli NEW.webp" width="753" height="301"></a>Want to trade, sell, buy&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://play.google.com/store/apps/details?id=com.bittime.currency.exchange&amp;hl=id">Bitcoin</a> and crypto investment easily? 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BRICS Countries Ready to Use New Currency

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BRICS Countries Ready to Use New Currency for Transactions.jpg

BRICS currency specimens exhibited in Russia at the BRICS Summit, October 2024, further emphasize BRICS' stance towards dedollarization. So, what impact will this have on crypto?

BRICS: De Dollarization and Its Impact on Crypto

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BRICS De Dollarization and Its Impact on Crypto.webp

Global attention on BRICS has increased since Putin unveiled the BRICS currency. What are BRICS currencies and what is the urgency behind them? Read the full review here.

What is BRICS Currency? The following is the explanation and urgency

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What is BRICS Currency The following is the explanation and urgency.webp

The President of Russia, Vladimir Putin, just a few days ago showed off the BRICS currency. Instantly, the BRICS currency became the spotlight, because the presence of the BRIC currency clearly challenged the dollar.