The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is actively seeking to establish a new currency on the world stage, aiming to challenge the dominance of the US dollar. This initiative comes amid concerns about the impact of US monetary policy on their economies. Before launching a new tender, BRICS countries are promoting their native currency. The BRICS alliance has been working to develop its own native currency over the last year, and it is likely to be unveiled at the 2025 BRICS Annual Summit in October.

Russia and Iran recently engaged in discussions regarding the use of native currencies in trade, a move mirroring the broader BRICS strategy. The next BRICS summit will be held in South Africa and the BRICS nations Brazil 23 de sept. de 2025. This highlights the urgency of the project for BRICS countries, and will allow developing countries especially in the Global South to limit or restrict their dependence on the US dollar.

While speculation initially pointed to an August 2025 launch, the focus remains on strengthening the use of existing BRICS currencies in international transactions. The introduction of a BRICS currency aims to provide greater financial independence and stability for member nations. The unveiling is expected to happen in October 2025 at the BRICS Annual Summit. By encouraging the use of native currencies, the BRICS alliance aims to lessen its reliance on the US dollar and foster greater economic resilience among its members.