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BRICS Launches Direct Payment System, Bypasses US Dollar

2/19/2026

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Summary

Story summary

BRICS launched a cross-border payment system that settles directly between member nations, bypassing the US dollar and SWIFT.
The system is built on Brazil's Pix technology and is already processing transactions.
Over 60% of BRICS trade is now settled in local currencies.
Discussions are underway on a BRICS digital currency that could integrate with Brazil's Drex and China's digital yuan.

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Story summary

BRICS launched a cross-border payment system that settles directly between member nations, bypassing the US dollar and SWIFT.
The system is built on Brazil's Pix technology and is already processing transactions.
Over 60% of BRICS trade is now settled in local currencies.
Discussions are underway on a BRICS digital currency that could integrate with Brazil's Drex and China's digital yuan.