DeFI News by Thebittimes.Com

The BRICS Pay system is receiving interest from the European Union, countries from South America, and Africa. The alliance is strategically expanding its global footprint by allowing many countries to join the payment system. Not just countries, the bloc is partnering with fintech entities, banks, and technological firms to strengthen the payment mechanism. Andrey Mikhaylishin, co-founder of the BRICS Pay project, confirmed that they’re receiving interest from all over. “We observe considerable inbound interest from the European Union, Latin America, and Africa,” he said. Mikhaylishin is eyeing Africa closely as over 1.5 billion people lack access to traditional payment cards. Also Read: How the US Plans to Counter BRICS De-Dollarization Agenda Africa Could Make BRICS Pay Grow Stronger Source: Valery Sharifulin (TASS) The demography represents a significant opportunity for BRICS Pay to grow and gain control of the African continent. It could become a pivotal financial technology e...

The curtains are off and the messaging is clear on the wall that BRICS is after the US dollar’s global dominance. The alliance has thrown the challenge right at America’s doorstep threatening to replace the currency from the world’s reserve status. The 16th summit in Kazan threw in several punches at the US and the West indicating that global financial power might not last forever. Also Read: Western Leaders React to BRICS 2024 Summit BRICS: The First Punch at the US Dollar BRICS threw the first punch by launching a mock-up of a new BRICS currency that could soon take shape. The unveiling of the ‘BRICS bill’ in Kazan is a paradigm shift in how the global finances operate. The bloc aims to shift the power of balance from the West to the East through the new payment method. This puts significant pressure on the US dollar to perform or perish, as BRICS is ushering into a new financial era. JUST IN: Russian President Putin has been gifted a mock-up of a "BRICS...