Currency is one thing, payment system is another, do not mix the two as if they were one. For example, Brazilian Real and its payment system PIX.
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Alexandre 8
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What is BRICS Pay?
News about the creation of a payment system by the BRICS, nicknamed "Pix," has gained prominence. The initiative, named BRICS Pay, aims to standardize communication between the different payment systems of member countries, allowing transactions using QR codes or digital wallets, similar to what happens with Pix in Brazil.
What is BRICS Pay?
BRICS Pay is a digital platform that allows the countries of the bloc to conduct international financial transactions using their local currencies, without the need to convert to the US dollar. This would reduce dependence on the dollar and transaction costs, which tend to be more expensive and slower when passing through intermediaries like the SWIFT system, dominated by Western powers.
What is BRICS Pay?
BRICS Pay is a digital platform that allows the countries of the bloc to conduct international financial transactions using their local currencies, without the need to convert to the US dollar. This would reduce dependence on the dollar and transaction costs, which tend to be more expensive and slower when passing through intermediaries like the SWIFT system, dominated by Western powers.
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