BRICS Financial Cooperation: Trends and Innovations

This chapter explores the evolving financial collaboration within the BRICS nations, emphasizing Russia's pivotal role and recent initiatives like a Commodity Exchange and tax cooperation frameworks. It highlights Brazil's perspective on a common digital currency and strengthened ties with Russia while examining the transformative potential of a new payment system for nearly 160 countries. The chapter also assesses the implications of cryptocurrencies and regional payment systems for enhancing trade and reducing dependence on the U.S. dollar.