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BRICS countries are looking at several ways to phase out the U.S. dollar in global trade. Central Bank Digital Currencies (CBDCs) are one such option. However, CBDCs Discover how BRICS nations are reshaping the global financial system by reducing reliance on the US dollar. Key initiatives include digital payments, trade in national It has continually embraced local currency promotion, seeking ways to lessen international reliance on the US dollar. Now, following the BRICS Summit 2025, Central Bank BRICS: 130 Countries Move Towards CBDC Currency. Out of 195 countries in the world, 130 nations are moving towards building their Central Bank Digital Currency (CBDC). Granville noted that a potential systemic solution involves a platform from the Bank for International Settlements (BIS) that facilitates direct, peer-to-peer settlements of BRICS will experiment with distributed ledger technology (DLT, such as blockchain), promoting the use of central bank digital currencies (CBDCs) so nations can A recent survey indicates that 70% of central banks are pursuing the development of Central Bank Digital Currencies (CBDCs) to move away

BRICS & CBDCs: 70% of Countries Seeking Digital Currencies to Ditch US Dollar Dominance

The global financial landscape is undergoing a significant shift. BRICS countries are looking at several ways to phase out the U.S. dollar in global trade. Central Bank Digital Currencies (CBDCs) are one such option. However, CBDCs aren't the only solution. Discover how BRICS nations are reshaping the global financial system by reducing reliance on the US dollar. Key initiatives include digital payments, trade in national currencies, and exploring alternative payment systems.

It has continually embraced local currency promotion, seeking ways to lessen international reliance on the US dollar. Now, following the BRICS Summit 2025, Central Bank cooperation is intensifying, with a focus on creating a more equitable and diversified financial world. This includes exploring innovative technologies like distributed ledger technology (DLT) and central bank digital currencies.

BRICS and the Global CBDC Movement: A Deeper Dive

The momentum behind CBDCs is undeniable. BRICS: 130 Countries Move Towards CBDC Currency. Out of 195 countries in the world, 130 nations are moving towards building their Central Bank Digital Currency (CBDC). This reflects a broader global trend towards digital finance and a desire for greater financial sovereignty.

While the BRICS nations are actively involved in CBDC research and development, collaboration with institutions like the Bank for International Settlements (BIS) is crucial. Granville noted that a potential systemic solution involves a platform from the Bank for International Settlements (BIS) that facilitates direct, peer-to-peer settlements of CBDCs, allowing for seamless cross-border transactions without relying on traditional dollar-denominated channels.

The Role of DLT and CBDCs in BRICS' Financial Strategy

BRICS will experiment with distributed ledger technology (DLT, such as blockchain), promoting the use of central bank digital currencies (CBDCs) so nations can facilitate more efficient and transparent international trade and financial transactions. This exploration of DLT and CBDCs is not just about technological innovation; it's about establishing a more resilient and independent financial ecosystem.

A key driver behind this movement is the growing dissatisfaction with the current reliance on the US dollar for global trade and reserves. A recent survey indicates that 70% of central banks are pursuing the development of Central Bank Digital Currencies (CBDCs) to move away from this dependency and gain greater control over their monetary policies.

Stay informed about the latest developments in BRICS' efforts to de-dollarize and the role CBDCs are playing in shaping the future of global finance.

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