A Ton Of BRICS These Countries Will SURPRISE You in 2024

Like A Ton Of BRICS

The BRICS Summit held in Kazan marked a significant moment in global financial discussions, particularly with the introduction of new financial systems like the BRICS Bridge and BRICS Clear.

• BRICS Bridge: This system aims to facilitate cross-border transactions among BRICS countries without relying on traditional Western financial infrastructure like SWIFT. By doing so, it seeks to reduce the dependency on the US dollar and other currencies predominantly used in international trade. This could potentially insulate trade among BRICS nations from geopolitical tensions, especially from sanctions or economic pressures exerted through control over international financial systems.

• BRICS Clear: As a clearing and settlement infrastructure, BRICS Clear is designed to handle financial transactions in local currencies, further reducing the need for dollar transactions. This system could streamline processes for settling trades directly in national currencies, enhancing the efficiency and autonomy of financial transactions within the BRICS bloc.

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