Geopolitical Analyst: BRICS Advances Toward Independent Digital Payment Platform, Russian Official Says

In today’s rapidly evolving economic landscape, the emergence of alternatives to traditional financial systems is more crucial than ever. Recently, Valentina Matviyenko, the Speaker of Russia’s Federation Council, unveiled an exciting initiative under the BRICS economic bloc (comprising Brazil, Russia, India, China, and South Africa): the development of a digital payment platform dubbed BRICS Bridge. This strategic move aims to establish an independent financial system, mitigating the bloc’s dependency on Western financial institutions, particularly in light of recent sanctions and Russia’s disconnection from SWIFT. The BRICS nations, representing a significant portion of the global population and GDP, have been advocating…