BRICS Payment System Eyes De-Dollarization Using Blockchain Tech

Quick Summary:

With a new BRICS Payment System rolling out just two weeks before, a staggering 159 countries have shown interest and willingness to adopt it posing a challenge to America’s much popular SWIFT banking system.

Last week, Russian President Vladimir Putin signed a crypto bill to allow crypto mining operations in the country along with using cryptocurrencies for cross-border payments.

It will be interesting to see whether other nations within the BRICS bloc would also favor the use of crypto.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: IndiaChinaUkraine

Topics: 24/7 Cryptocurrency News De-dollarization BRICS SWIFT BRICS crypto regulation Russia crypto regulation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-17 @ 05:56:29 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 460 words

Reading Time: 3 minutes read

Sentences: 38 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22112831

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 18 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 11 hours ago

Coverage Areas: India

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