BRICS Develops Payment System to Rival SWIFT
- BRICS is creating a payment system to challenge Western financial dominance.
- The new system may soon be open to non-member countries.
- Russian Foreign Minister Sergey Lavrov discussed this initiative on April 11 in Almaty.
- This development poses a threat to SWIFT’s global monopoly.
BRICS is advancing its own payment network, potentially expanding access beyond its members, as noted by Russian Foreign Minister Sergey Lavrov during his address in Almaty. This move challenges the current global financial system dominated by SWIFT.
Source (2.6)https://news.bitcoin.com/russia-expects-brics-payment-network-to-go-global-swifts-monopoly-under-threat/?rand=52384
