BRICS announces new digital payment platform

Huge news on #dedollarization #BRICS nations are discussing a multilateral digital settlement and payments platform. Goodbye to SWIFT, dollar, and US hegemony! Meeting in São Paulo, Brazil pic.twitter.com/EO7vjnUaqt — S.L. Kanthan (@Kanthan2030) February 28, 2024 Finance ministers discuss BRICS Bridge …

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Central Bank Digital Currencies can replace cash and offer resilience according to International Money Fund Managing Director Kristalina Georgieva. The public sector should, therefore, continue to prepare for CBDC deployment, she said.

by welp007 Central bank digital currencies (CBDC) can replace physical money, especially in economies where cash deployment is costly, Managing Director of the International Monetary Fund Kristalina Georgieva said during a Wednesday speech. CBDCs are digital iterations of sovereign currencies …

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