Altcoin News Official TheBitTimes.com

Brazil, which chairs the upcoming BRICS summit in 2025 confirmed that they plan on the formation of new payment systems. Under the leadership of Brazilian President Luiz Lula da Silva, the alliance will discuss alternative payment options to the US dollar. The BRICS Sherpas meeting will take the ideas forward and the upcoming 17th summit could see massive changes in the way the bloc operates and settles cross-border transactions. Also Read: When Is the BRICS Summit in 2025? Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The move could lead to a paradigm shift in global trade and tilt the financial powers from the West to the East. Developing countries are looking to cut ties with the US dollar and strengthen their local currencies in the forex markets. The US dollar is in the crosshairs of a major shift that could pave the way for native currencies to take the driver’s seat of the financial markets. Also Read: BRICS: Goldman Sa...

With the leading cryptocurrency nearing a return to its all-time high, it could factor into the BRICS alliance, with one VanEck executive saying the bloc is likely to increase its Bitcoin adoption in the future. Specifically, the firm notes that the asset could be key in the collective’s growing global trade. The BRICS has just concluded its long-awaited 2024 Summit. There, they highlighted the need to continue its ongoing de-dollarization efforts but also assured it will not be creating new infrastructure to support such an endeavor. That could open the door for cryptos like Bitcoin, to become even more important in the near future. Source: AFP Also Read: BRICS: U.S. Dollar Crisis Could Begin in 2025 BRICS Turn to Bitcoin? Why One Executive Thinks It May Just Be a Matter of Time There were high hopes for Bitcoin entering the year. After being the first crypto to receive ETF approval in the United States in January, the leading asset reached an all-time high price of $73,000 just ...