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The BRICS gold-backed currency using XRP is showing real progress right now, and member nations are actually building the infrastructure needed for trade settlements that can bypass dollar systems entirely. Central banks from BRICS countries have been working directly on the XRP Ledger for years, and the evidence keeps piling up that this alternative to the current financial setup is becoming more serious by the day. Also Read: Wall Street Joins BRICS Gold Bull Run, Sees $10,000 Price Ahead BRICS Gold-Backed Currency XRP Ledger Reveals Latest Progress Source: The Daily Economy The XRP Ledger has been under development quietly by BRICS nations, and most people had no idea this was happening. Versan Aljarrah of Black Swan Capitalist dug through archived documents and found that central banks within BRICS nations, along with the New Development Bank, have been building on the XRP Ledger for years now. These aren’t just casual mentions either – official materials from BRICS point to e...

BRICS member India hit back at Trump for dictating with whom they must conduct business and cross-border transactions. India’s Foreign Minister S. Jaishankar dismissed the West’s BRICS vs. Quad narrative, citing that both alliances are different. Many commentators in the West hit out at India, citing that the country is procuring oil from Russia despite being a part of the Quad. For the uninitiated, Quad is an alliance comprising four countries: India, Japan, Australia, and the US. The group was formed in 2007 by Japanese Prime Minister Shinzo Abe to hold talks among member nations. Also Read: Wall Street Reacts To BRICS Currency During a talk at The Economic Times World Leaders Forum (WLF), S Jaishankar said that BRICS and Quad are separate. The two cannot be interlinked as the ideologies are different, and business deals and policies are non-identical. “Quad is still the Quad, and BRICS is still BRICS, and countries like India should not be forced to make binary choi...

American trend forecaster Gerald Celente says that BRICS is ready to put the US dollar on its death bed. He argued in a podcast with Cuban-American journalist Rick Sanchez that the alliance has become self-sufficient and no longer needs the US dollar for survival. Members such as China and India have a robust economy and can survive without depending on the USD. China dominates the manufacturing sector, and the US and other Western nations depend on its products to conduct day-to-day business. Russia, despite sanctions, is seeing its economy grow by 1.4% in FY 2024-25. In addition, India’s economy no longer depends on the US and is much self-sustained with local manufacturing and jobs. The BRICS economy is growing and could push the US dollar to its death bed. Also Read: BRICS Countries List Expands in Global Shift, 32 More Waiting to Join “The death of the US dollar has begun as BRICS grows self-sufficient,” said Celente. He explained that the recent tariffs on India...

BRICS was a raging bull when Joe Biden was in the White House and threatened to uproot the US dollar. They even rewrote trade deals, abandoning the US dollar and using local currencies for payment settlements. If that wasn’t enough, the alliance made it clear that they are working on the formation of a new currency. De-dollarization was buzzing in the developing world, citing development as the only opportunity to capture power from the West. Also Read: China Settles $855 Billion Worth of Deals With BRICS Countries in 2025 All it took was a threat from President Donald Trump to impose tariffs, and the mighty BRICS folded under pressure. Trump’s policies were quick, and world leaders realized that he’s not playing around either. The tariffs not only came down hard but also rattled their plans, causing a rift within the alliance. It cut apart their ideology in half, where Russia, China, and Iran are on one side, and India, South Africa, and the UAE are on the other side....

The major announcement from the BRICS alliance is that the bloc is divided on the global de-dollarization agenda. The nine-member alliance is seeing divisions as cracks open up from all sides on what the group stands for. While some countries want to launch a new common currency for trade and transactions, others don’t. The breaking up of ideas is causing a split within the group with each country wanting different agendas. Also Read: More Countries Ready to Join BRICS Alliance BRICS: India & Brazil Announce ‘No Interest’ in De-Dollarization BRICS member India has made it clear that it has no interest in ending reliance on the US dollar and will not pursue the de-dollarization agenda. Foreign Minister S. Jaishankar said that India has “absolutely no interest” in undermining the US dollar. He said that the country “has never had a problem” with the greenback and has no plans to replace it. Also Read: India Officially Dismisses BRICS Currency, Praises the US Dollar ...

Geopolitical tensions are nearing a fever pitch as the global south and the west face off. With de-dollarization efforts at the forefront, the two sides have shown no interest in budging. However, things took a twist for BRICS and the US this week, as the US dollar fell from its two-year high with President Donald Trump’s 100% tariff plan taking a turn. Throughout his campaign for reelection, Trump has not been shy about his perspective on the US dollar. Specifically, he has continued to maintain the importance of the greenback to remain the world’s currency. This week, he has shared an interesting update that adds the latest on what is an extended saga. Source: Watcher Guru Also Read: BRICS to Introduce Bitcoin Reserve? Us Expert Says Its Possible US Dollar Falls From 2-Year High as BRICS & Trump Saga Enters Another Chapter Since his 2024 presidential election win in November of last year, Donald Trump has targeted the BRICS alliance. He has issued a severe warning on the b...

BRICS members Russia and Iran want to abandon the Western-dominated payment messaging system SWIFT. The two countries aim to launch a new payment system as an alternative to the SWIFT mechanism. The sanctioned nations are working towards the formation of a new payment system that will completely get rid of the US dollar for cross-border trade and transactions. Also Read: BRICS: India Most Likely Getting Rid of the US Dollar Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. SWIFT is controlled by the US making BRICS and other developing countries use the messaging system for financial transactions. The US dollar, Euro, and Pound are the most used currency for settlements around the world. Ending reliance on SWIFT will strengthen local currencies and become the de facto currency for trade. Also Read: BRICS: Russia & Myanmar to Trade In Local Currency, Ditch US Dollar BRICS: Russia & Iran Ready To Ditch SWIFT After Launching New P...

Russia, being an active part of the BRICS ecosystem, is now adopting a new stance. In a new clip, Russian PM Vladimir Putin can be seen expressing his desire to meet US President Donald Trump to discuss future proceedings. In another clip, Donald Trump was noted making a similar promise, adding that he wanted to meet Putin and discuss ending the ongoing war crisis. The conversation may span a variety of new topics, including the rising US dollar de-dollarization. Is the phenomenon of US Dollar derailment finally coming to a long halt? Also Read: Shiba Inu: Here’s What SHIB’s Immediate Price Target Is? Putin Says No Issues In Meeting US President Trump Source: CNN In a new clip online, Russian PM Putin was noted expressing his openness to meeting with US President Donald Trump. Russian President Putin says he is open to a meeting or summit with US President-elect Trump at any time. pic.twitter.com/h4yPeAVQg7 — BRICS News (@BRICSinfo) December 22, 2024 At the same time, Donald Trump was...

BRICS is now under pressure from President-elect Donald Trump to abandon the formation of their new currency. For the uninitiated, the alliance is working on the formation of a basket of currencies to settle cross-border transactions. The alliance wants to cut ties with the US dollar for global trade and use currencies that benefit their native economies. Trump has warned of a 100% tariff on goods entering the US if the bloc sidelines the US dollar globally. Also Read: BRICS Countries React to Trump’s 100% Tariff Threats Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The American economy will be severely impacted and its global hegemony could be uprooted if the USD is not accepted by developing countries. It could also lead to hyperinflation in the homeland making daily essentials skyrocket. Also Read: BRICS: 2 Countries Pay 80% of Trade in Local Currencies, Not US Dollar BRICS Currency: Economist Predicts its Future Prospects Sourc...

In what has the potential to be one of the biggest points of discussion at the event, the BRICS bloc proposed the use of Bitcoin for international payments at its 2024 Summit. Indeed, all eyes were on the leading cryptocurrency as the bloc discussed its ongoing de-dollarization approach. The economic alliance has continued to find new ways to promote local currencies through its policies. Moreover, there has been discussion that cryptocurrencies could factor into that in a massive way. Bitcoin could be set to play a bit part in the bloc over the next several years. Also Read: Saudi Arabia Officially Declines BRICS Membership BRICS Could Implement Bitcoin Following 2024 Summit Proposal Since 2022, the BRICS economic bloc has sought ways to challenge Western economic dominance. The potential creation of its own payment system and the promotion of local currencies have seen it increase the dominance of the US dollar in a big way. All the while, increasing the prevalence of the group itsel...

The BRICS alliance unveiled a new payment system that bypasses the US dollar for all trade and transactions. The system, called ‘BRICS Pay,’ is a type of credit and debit card that seamlessly transfers money in real-time without the need for the SWIFT messaging system and the US dollar. The alliance released an exclusive video on how the BRICS Pay system works highlighting its importance. Participants in the BRICS Business Forum got to test the new payment technology and understand the way it functions. Also Read: 35 New Countries To Abandon US Dollar at 2024 BRICS Summit Watch the exclusive video below, which was shared by the bloc, on how the BRICS Pay system works. JUST IN: Participants at the BRICS Business Forum test new payment system 'BRICS Pay.' pic.twitter.com/9jBPbYdcDL — BRICS News (@BRICSinfo) October 18, 2024 The video shows the BRICS Pay card equipped with 500 rubies that can be used for payment in three locations at the World Trade. The card could soon be activat...

BRICS kick-started the de-dollarization process in 2022 to bring the U.S. dollar down from the world’s reserve currency status. The alliance wants to replace the U.S. dollar with local currencies for trade to strengthen their native economies. Developing countries are also fearful of U.S. sanctions and are looking to stabilize their currencies if such a situation occurs. Despite all these developments, Russia’s Foreign Minister Sergey Lavrov says that the BRICS bloc is not seeking global dominance. Also Read: BRICS : China Helps Taliban Sell $80 Million Worth Crude Oil in 10 Days Lavrov said in a press conference that BRICS wants to create a multipolar world and is not looking at global domination. He criticized the U.S. for dividing the world based on financial strength and BRICS aims to reverse the course. The diplomat called the idea of a multipolar world a “developing historical process which cannot be stopped” at any cost. Also Read: U.S. ...

BRICS member India finalized a major trade partnership with Nigeria on Friday switching away from the US dollar. Both countries will use local currencies in the bilateral trade agreement for energy, pharmaceuticals, and transport sectors. India and Nigeria have agreed to cooperate and settle trade in local currencies and not the US dollar. Also Read: BRICS: 20% of Oil Payments Settled in Local Currencies, Not US Dollar However, the local currency in question is yet to be finalized and could be either the India n Rupee or the Nigeria n Naira . The agreement comes at a time when BRICS is looking to uproot the US dollar as the world’s reserve currency. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS: Economist Predicts One Final Rally Before the Markets Crash 50% BRICS: India & Nigeria To Trade in Local Currencies, Ditch US Dollar Soir...