SPIEF 2024: BRICS members discussing unified payment system – Russian finance minister ...News

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SPIEF 2024: BRICS members discussing unified payment system – Russian finance minister
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The new settlement mechanism will allow countries to bypass Western financial messenger SWIFT, Anton Siluanov has said BRICS finance ministers are currently examining the possibility of launching a common blockchain-based system of financial settlements that could be used in place of the Western-dominated financial messaging system SWIFT, Russian Finance Minister Anton Siluanov said on Friday. Providing an alternative payment system is a key goal of the new mechanism, as US dollar settlements currently pose “great risks” for participants of global trade, Siluanov told Izvestia on the sidelines of the St. Petersbur

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