Recently, I started to observe a movement that could significantly change the way countries make international payments: the so-called “BRICS PIX.” The idea is to create a payment system among the BRICS countries — consisting of Brazil, Russia, India, China, and South Africa — to facilitate direct transfers between their economies.
In practice, it would be something similar to Pix, but aimed at international transactions. Instead of relying on systems dominated by the West, like SWIFT, countries could settle payments almost in real-time using their own currencies.
The main objective is to reduce dependence on the US Dollar in global trade. This does not mean that the dollar will disappear, but it shows that several economies are seeking more financial autonomy.
If this system really scales, it could open up space for new integrations with technologies such as blockchain and central bank digital currencies. Ultimately, what we are seeing is the beginning of a silent dispute for the infrastructure of money in the 21st century.