Brazil’s Presidency Brics Prioritize Blockcain for cross-border trading: Report

Brazil seems to be favoring Blockcain for Brics partition stores, removed from talks about the common currency.

Brazil can investigate hi In order to improve Brig – which includes Russia, India, ChinaTogether with other members – trade transactions, with a theme that potentially became a key focus during a long-long chairman in the debt in January, which began in January, Brazilian newspaper Valor Economic reportsstating the sources of close things.

The plan seems to be different from past discussions about customer extent Bricevi. According to people close to conversations, intention is to “not create a currency to compete with the dollar as a standard exchange medium in foreign trade” as American President ” Donald Trump was before threatened to impose 100% tariffs about those trying to replace US currency.

Instead, it seems that the focus is on improving efficiency in international transactions. One possible steps could integrate Blocchain in Brazil’s financial system, adding that the Central Bank of Earth tested Dreeks, the project was created to create a tokenized financial transaction infrastructure. However, the project allegedly faces challenges in the balance of privacy and regulatory surveillance.

Stablecoins already in use

Another alternative could be a network similar to Brazil’s PIK system, although such an approach could potentially withdraw concerns about the “management of participating countries”, adds a report.

In April 2024., Russian Deputy Foreign Minister Sergei Riabkov propose This stablecoins can play a role in international settlements among Brigs members, because the Alliance has already established a special communication channel between central banks. However, no official decision on Stablecoins within Brices have not been performed since.

In March 2025, Cripto.news export That Russian oil firms already use different cryptocurries and stablecoins to convert Chinese Yuans and Indian holes in trading rubles.