Gathered Wednesday at a summit

Gathered Wednesday at a summit in the Russian city of Kazan, the members of BRICS adopted a joint declaration calling for the creation of an independent payment

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Russia has been pushing particularly

The new BRICS payment system, primarily initiated by China and Russia, also known as “BRICS Pay,” is a planned independent and decentralized payment messaging

Russia is spearheading BRICS’s push for a cross-border payment system using national currencies and digital assets. The initiative aims to strengthen BRICS’s financial

Russia has been pushing particularly hard for the BRICS bloc to consider an alternative payment network to replace the dollar-denominated SWIFT system. It's an

Keatinge added

China backs Russia-proposed BRICS payment system

Keatinge added, however, that the new infrastructure would not be able to easily replicate the stability, liquidity and convertibility of the U.S. dollar that a number of