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BRICS activates new payment system that threatens to wipe out the dollar

This decision of the BRICS is part of their economic development with a view to moving towards a multipolar world.
Internet

Published at: 21/08/2024 11:30 AM


The BRICS announced that the System for the Transfer of Financial Messages (SPFS) .


The payment system of this international block is similar to SWIFT (Society for Worldwide Interbank Financial Telecommunications), which can end the global dominance of the US dollar.


It should be noted that SWIFT, based in Belgium, is a network that facilitates the movement of capital between countries, with more than 11,000 financial institutions, in nearly 200 territories , Fuser reports.


This decision of the is part of their economic development with a view to moving towards a multipolar world.



Mazo News Team