BRICS Pay is a decentralized cross-border payment messaging system affiliated with the BRICS bloc of major emerging economies. Launched in 2018 under the BRICS Business Council, it was built by financial and banking technology teams from the founding BRICS states to let members settle payments in their own local currencies rather than through dollar-denominated channels. The system is presented by its backers as a way to make international payments among BRICS countries safer, more transparent, and less costly, while deepening financial cooperation across the bloc.
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Institution SubtypeSourced to the subject's own account Founding YearSourced to the subject's own account Sources
1. BRICS Pay (Wikipedia)
WikipediaLead section
The venture was launched in 2018 by the BRICS Business Council.
Lead paragraph
is a decentralized and independent payment messaging mechanism system that is affiliated with the BRICS organization.
In Group: Clearing, Settlement and Depository Institutions, Lead
BRICS Pay (stylized as BRICS PAY) is a decentralized and independent payment messaging mechanism system that is affiliated with the BRICS organization.
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