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Brazil’s Ambassador to India Kenneth Felix Haczynski da Nobrega confirmed in a recent interview that the BRICS alliance has no plans of creating a new currency to challenge the US dollar. The statement comes after the 17th summit in Rio de Janeiro which saw member nations push towards a multipolar financial world. The formation of a new BRICS currency is not feasible and was not discussed at the 17th summit on July 6 and 7. However, Kenneth revealed that the alliance will focus on settling trade with local currencies instead of the US dollar. The transactions will be on a “voluntary basis” among member nations to adapt local currencies for cross-border transactions. Also Read: India Officially Calls for a New Financial World at BRICS 2025 Summit BRICS Has No Plans of Creating a New Currency, Says Envoy Source: Shashi Shekhar Kashyap / The Hindu The Brazilian Ambassador to India revealed that BRICS is not envisioning creating a new currency. He stressed that the bloc is envi...

BRICS currency is the talk of the town lately as the alliance is looking to trounce the US dollar’s dominance. Brazil, which chairs the upcoming summit in July confirmed that the bloc is working on a new payment system where non-members will be allowed to settle transactions. The development could be a game-changer after launch as the US dollar will not be incorporated into the payment mechanism. Also Read: De-Dollarization Reaches European Shores: EU Questions US Dollar Usage The threat of a BRICS currency is looming large and the superiority of the US dollar remains under pressure. Developing countries want to disassociate with the USD as it carries the risk of debt. Holding it in their central banks without diversifying their assets leads to bigger financial issues, including absorbing inflation. Emerging nations are turning to protectionists in a bid to safeguard their economies from America’s debt. Also Read: BRICS Makes Huge Announcement On New Payment System Will BRIC...

The BRICS alliance is aiming to launch a new currency to challenge the US dollar and topple it from the world’s reserve status. The bloc came to a consensus that a new tender is required for its survival after the White House pressed sanctions on Russia. Developing nations believe that the US is weaponizing the greenback to make other countries fall in line with its policies. The rift between the East and West is growing as emerging economies want to hold a dominant role in global finances. Also Read: BRICS: US Dollar Is Now an Unreliable Currency, Say Analysts BRICS Currency: What Are the Advantages & Benefits? Source: Cryptopolitian.com The first and foremost advantage of launching a BRICS currency is the diminishing influence of the US dollar in the global sector. The greenback cannot influence financial developments and reduce its power to any other local currency. The move would encourage developing nations to come together and remain united in advancing the de-dollarization ...

BRICS member India is repeatedly making it clear that they will not ditch the US dollar for trade and transactions. India’s Foreign Minister S. Jaishankar spoke in the Parliament regarding the de-dollarization agenda and the country’s role in it. He confirmed that India is steering off any anti-dollar moves amid US President Donald Trump’s tariff threats. Also Read: BRICS: New Country Plans to Reduce 25% of Trade Without US Dollar “BRICS, a platform that has grown in membership and agenda over the last two decades, seeks to enhance understanding among the international community,” said Jaishankar in response to a question in the Lok Sabha Parliament. Trump had threatened to impose tariffs on India and all BRICS nations if they plan to reduce dependency on the US dollar. Jaishankar added that India has conveyed its stance to the US authorities during bilateral discussions that they will not pursue the BRICS agenda of sidelining the US dollar. Therefore, the de-dollariz...

BRICS member Russia confirmed that it has settled 80% of trade with its neighboring country Kazakhstan in local currencies and not the US dollar. Russian President Vladimir Putin confirmed the development saying that both nations have agreed to strengthen their trade ties. Also Read: BRICS Moving Away From the De-Dollarization Agenda “The problem is and partly remains but we have already transferred more than 80% of all settlements to national currencies. From my point of view, everything should be done to strengthen our ties,” said Putin. Russia is advancing the BRICS de-dollarization initiative to its neighboring countries by putting the US dollar behind local currencies. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Local currencies will strengthen in the forex markets and give developing countries a boost in the arm. This puts the US dollar’s hegemony at risk as emerging economies are looking to topple it as t...

Earning significant ROI in a bull market could mean paying attention to the meme coins and Altcoins with explosive potential. However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token. Also included in the post is an overview of the market trend of crypto assets, which have the potential to post significant gains in the future. 1. aelf (ELF) The steady increase of aelf (ELF) can be attributed to the favorable regulatory environment and a strong technology sector. Firstly, these factors fuel the adoption of cryptocurrencies. Moreover, the introduction of Bitcoin ETFs and the increasing regulatory compliance of major centralized exchanges greatly influence its growth. Due to these...

While Bitcoin is yet to cross the $69K resistance level, other cryptocurrencies are printing green returns. In light of this, market participants search for low-cost tokens for easy market entries. Specifically, new crypto currency releases, listings, and presales present this opportunity. This Analysis compiles these digital assets, including their Features , utilities, and market history. New Cryptocurrency Releases, Listings, and Presales Today Nim Network is poised to transform the fusion of Web3 and AI with its adaptable AI gaming blockchain. MON Protocol, a prominent figure in blockchain gaming, has announced strategic plans to reinforce its standing as a premier publisher of blockchain-centric IPs and games.  Mega Dice, a GameFi crypto currency venture on Solana, has garnered significant interest, raising over $1.2 million and nearing the $2 million mark. Meanwhile, crypto currency traders closely monitor Ethereum’s ascent towards a new record amid heightened ...

Newly released crypto assets can offer buyers a higher return on investment (ROI). Today, we reviewed various new coins on the market. Restake Finance went up 8.1% in the last day, putting its price back over $1.78. This is similar to what’s happening with other new releases, as many are also going up. New Cryptocurrency Releases, Listings, and Presales Today At the same time, Meme Kombat, a presale play-to-earn (P2E) token, is also doing well, giving early investors one more opportunity to join before it launches on Uniswap. This article discusses the recent events surrounding the upswing in prices of these newly listed tokens . 1. Restake Finance (RSTK) Restake Finance (RSTK) introduces a novel approach to yield optimization through rehypothecation, leveraging the Ethereum ecosystem and EigenLayer’s capabilities. The token’s mission centers on allowing users to earn Ethereum staking rewards. In addition, it offers EigenLayer native rewards without the need to l...