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World News@lemmy.mlEnglish · 2 years ago

BRICS Officially Announces Financial System Similar to SWIFT

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BRICS Officially Announces Financial System Similar to SWIFT

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World News@lemmy.mlEnglish · 2 years ago

The BRICS alliance will create a new financial messaging system similar to SWIFT and trade in local currencies and not the US dollar.

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Aria@lemmygrad.ml
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2 years ago
The article doesn’t make it clear if they’re talking about something for people or just institutions.
- ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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  2 years ago
  From what I’ve read the goal is to create a settlement currency akin to Bancor aimed at state level transactions.
  - Aria@lemmygrad.ml
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    2 years ago
    Wasn’t mBridge meant to satisfy that?
    - ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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      2 years ago
      Seems like not, I guess we’ll see what this will look like soon.

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