The recent announcement of BRICS Payment system has led to 159 countries worldwide showing interest and willingness for de-dollarization and SWIFT alternative. BRICS is reportedly considering a gold-backed currency announcement at the upcoming summit in October 2024. Last month, the BRICS nations announced their own payment system as an alternative to America’s SWIFT to reshape global trade. This could facilitate cross-border transactions and settlements without relying on the U.S. Dollar. Crypto can prove to be a strong bridge across the bloc nations as well as for international traders with Western countries. 

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