Quiet Rise of a Global Payment System: BRICS Launches USD-Alternative

Source: Inside Paradeplatz | Original Published At: 2025-11-23 11:00:00 UTC

Key Points

• BRICS launched a global payment system using Chinese RMB, allowing 180+ countries to bypass USD in trade.
• China's CIPS system now connects thousands of financial institutions across nearly all continents, processing tens of trillions in RMB annually.
• ASEAN countries and development banks increasingly adopt RMB financing to reduce dollar dependency and volatility risks.
• BRICS development banks are issuing RMB-denominated loans for multinational infrastructure projects, exemplified by China-South Africa cooperation.
• Global RMB trade financing volume has quadrupled, now capturing ~8% of global trade transactions with accelerating growth.