The five countries that make up the BRICS bloc, such as Brazil, Russia, India, China and South Africa, are determined to move towards de-dollarization, and will do so by creating their own payment system based on cryptocurrency or central bank digital currency (CBDC).

The association of nations will work to "create an independent payment system based on digital currencies," Kremlin adviser Yury Ushakov said in an interview with Russian media.
In this way, Ushakov again mentions a project that would be underway since last year when the initiative was first reported. In this regard, it was studied that the group's currency could be a stablecoin that would be backed by gold, metals, land, land extensions and other commodities.
In any case, the details of the project are still unknown. However, last week, the Minister of Finance of the Russian Federation, Anton Siluanov, spoke of creating a multilateral digital settlement and payment platform on which digital currencies would be tested with China, the Eurasian Economic Union (EAEU), and the Gulf countries.