The central bank of India has plans for BRICS members to associate their official digital currencies, targeting to make cross-border trade and tourism payments swifter as geopolitics toughens and more countries seek rails that depend less on the US dollar. On January 19, Reuters reported that the Reserve Bank of
The BRICS economic bloc, comprising Brazil, Russia, India, China, and South Africa, is shifting increasingly towards cryptocurrency. As well as blockchain payment systems to facilitate cross-border trade. While the coalition is looking for ways to reduce the use of the US dollar for foreign trade, some of the member countries
Bangladesh has submitted a formal application to join the BRICS alliance, which has Brazil, Russia, India, China, and South Africa in hand. The application follows a meeting between Prime Minister Sheikh Hasina and South African President Matamela Cyril Ramaphosa in Geneva. This development carries significant implications for the global economic
Breaking ground on a bold new venture, Egypt has officially applied to join the powerful BRICS alliance. Georgy Borisenko, the Russian Ambassador to Cairo, confirmed this historic development. Based on the sources, Egypt’s primary focus is the shift of trade to alternative currencies, including national currencies or potentially, a new
The European Union (EU) is in terms to elongate the course of building newer frameworks with better performance for blockchain developers, reports the officials in the EU. Concurrently, this is followed by the major exchanges like Coinbase and Binance being sued by U.S. Securities and Exchange Commission (SEC) in the
While it is true that BRICS countries have expressed their desire to reduce the dominance of the US dollar in international trade and finance, it would be an exaggeration to say that they are “racing” to achieve this goal. The BRICS countries have been exploring alternatives to the US dollar
On Thursday, BRICS gathered to address the issues happening across the international agenda as started with ‘an exchange of views’, in South Africa. The meeting comprises the foreign ministers from five member nations including Brazil, Russia, India, China, and South Africa at Cape Town. Discussion Details at the Meet The
Five days prior to Treasury’s deadline, the US House of Representatives overwhelmingly voted on Wednesday to boost the federal debt ceiling. With the majority of Democrats and Republicans voting in favor, the U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt limit. Also, the bill would
In an era where disruptive technologies are redefining financial boundaries, cryptocurrency, particularly Bitcoin, has emerged as a game-changer. No country illustrates this paradigm shift better than India, which has witnessed an astounding 2700% increase in new Bitcoin users over the past three years. According to reports, the dawn of India’s
South Africa’s largest political party, Democratic Alliance (DA) released an application regarding the surrender of President Vladimir Putin in South Africa, this Monday. This is with regard to the presence of Putin in the upcoming BRICS summit followed by the surrender to the International Criminal Court (ICC). The application was
