Brazil’s BRICS presidency prioritizes blockchain for cross-border trade: report

Brazil seems to promote blockchain for the cross -border trade in the BRICS, moving away from the conversation of a common currency.

Brazil can explore blockchain To improve the BRICS – which includes Russia,, India,, ChinaWith other members – commercial transactions, the subject potentially becoming a key objective during the country of the country of the country, which started in January, the Brazilian newspaper EconôMico reportsciting sources nearby.

The plan seems to be different from the discussions spent on a common Brics currency. According to people close to talks, the intention is “not to create a currency to compete with the dollar as a standard foreign trade means” as a President Donald Trump earlier threat To impose a 100% price on those who try to replace the American currency.

Instead, the objective seems to be to improve the efficiency of international transactions. A possible step could be to integrate the blockchain into the Brazil financial system, indicates the report, adding that the central bank of the country has tested Drex, a project to create a tokénized infrastructure for financial transactions for some time. However, the project would be faced with challenges in the balancing of privacy and regulatory surveillance.

Stablecoins already used

Another alternative could be a network similar to the Brazil Pix system, although such an approach can potentially raise concerns about “the governance and sovereignty of the participating countries”, adds the report.

In April 2024, the Russian Deputy Minister of Foreign Affairs Sergey Ryabkov suggested That stablecoins could play a role in international establishments among the members of the BRICS, because the Alliance has already created a special communication channel between central banks. However, no official decision on the stablescoins within the BRICS has been made since then.

In March 2025, Crypto.News reported That Russian oil companies already use different cryptocurrencies and stablescoins to convert the Chinese yuan and Indian ruble rubles for trade.