Since the beginning of 2025, Brazil has been chairing the BRICS presidency, and one of the key topics on its agenda will be the introduction of blockchain technology into international trade transactions. According to O Globo, the initiative is aimed at improving the efficiency of financial settlements between the bloc’s member countries without the need to create a single currency. The main goal is to use digital assets such as stablecoins to make cross-border payments faster and cheaper.
Unlike the previously discussed idea of introducing a common BRICS currency, the measure is not aimed at competing with the US dollar. Sources emphasize that U.S. President Donald Trump has already made threats to impose high duties on countries trying to abandon the dollar in international trade. Instead, Brazil’s initiative is focused on increasing the speed and transparency of financial transactions within the bloc.
One possible model is to integrate blockchain platforms with traditional settlement systems. For example, the Drex project being developed by the Central Bank of Brazil involves the use of tokenized assets for cross-border transactions. However, this approach faces challenges related to data control and privacy. Alternatively, a single payment systеm similar to Brazil’s Pix could be created, which in turn raises questions about preserving the sovereignty of the participating countries.
