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BRICS payment system

What does BRICS local-currency trade mean for small-town exporters? The payment push could create new opportunities while bringing currency and compliance risks.

BRICS is developing alternative payment systems to reduce reliance on SWIFT and strengthen local-currency trade.

The BRICS interbank payment system seeks to expand local-currency settlement and alternative payment routes, potentially reducing reliance on SWIFT and the dollar-centred financial system.

BRICS Rio Summit focuses on digital sovereignty, ethical AI, and climate finance to empower the Global South.