Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
BRICS Announces Creation of Digital Currency Payment System Based on Blockchain

BRICS Announces Creation of Digital Currency Payment System Based on Blockchain

CointimeCointime2024/03/05 08:08
By:Cointime

BRICS, a group of nine nations including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates, has announced plans to create an independent payment system based on digital currencies and blockchain technology. The move is part of the BRICS Contingent Reserve Arrangement framework, which aims to protect against global liquidity pressures and reduce reliance on the US dollar. The payment system will be designed to be convenient, cost-effective, and free from political influence. The BRICS CRA is seen as a competitor to the International Monetary Fund, and recent reports suggest that the group is also working on a multisided payment platform called the BRICS Bridge.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Skipped Bitcoin Cash? Qubetics ($TICS) Could Be Your Redemption Ticket – Top Cryptos for Significant Returns

The crypto market has been on fire lately. With the spotlight shifting to new and innovative blockchain projects, everyone’s eyes are on which cryptos will make waves this year.Bitcoin Cash: A Missed Opportunity for Significant ReturnsQubetics: Revolutionizing Digital Finance with Real-World Asset TokenizationConclusion: Time to Act on Qubetics

Coinomedia2025/03/16 14:33

BTC Short Position by ETH Whale Nears $332M

A crypto whale boosts their BTC short position to $332M, facing losses and potential short squeeze risk.Whale Boosts BTC Short Position Amid Market VolatilityRisk of Liquidation LoomsStrategic Buy Orders Placed

Coinomedia2025/03/16 14:33

Pakistan Launches Crypto Council Led by Finance Minister

Pakistan forms Crypto Council to boost blockchain and crypto adoption, chaired by Finance Minister Muhammad Aurangzeb.Pakistan Takes a Bold Step Toward Crypto AdoptionFinance Minister to Lead the InitiativeFocus on Innovation and Financial Inclusion

Coinomedia2025/03/16 14:33

Trump Crypto Project WLFI Buys AVAX, MNT for $4M

Trump-linked crypto project WLFI buys $4M worth of AVAX and MNT, total investment hits $340M with $115M in unrealized losses.WLFI Adds AVAX and MNT to Crypto Portfolio$340M Invested Across 11 TokensHeavy Losses Despite Market Activity

Coinomedia2025/03/16 14:33