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BRICS turns to blockchain for smoother cross-border payments
The BRICS alliance is ramping up its push for blockchain adoption in international transactions. Member nations are exploring how this technology can streamline cross-border payments, reduce inefficiencies, and bolster trade within the bloc. With Brazil spearheading the initiative, analysts at Valor Economico see blockchain integration as a key priority for 2025.
Unlike previous discussions about creating a common BRICS currency, this latest initiative takes a different approach. According to sources close to the talks, the alliance is not looking to create an alternative to the US dollar in global trade. The move comes amid growing concerns about Washington's stance. As a reminder, former US President Donald Trump has signaled a potential 100% tariff on nations attempting to sideline the greenback.
The blockchain strategy, however, is not about replacing existing currencies but enhancing the efficiency of transactions. Brazil is reportedly considering integrating blockchain into its financial infrastructure to facilitate smoother cross-border payments.
Meanwhile, Russia's energy sector is already experimenting with digital assets. As of March 2025, Russian oil companies have been leveraging cryptocurrencies and stablecoins to convert Chinese yuan and Indian rupees into rubles, a move that underscores the bloc's growing interest in alternative payment mechanisms.
© InstaFintech Group
