Moving Away from the Dollar: How Brics Pay is Shaping a New Global Financial Architecture

Source: Berliner Zeitung | Original Published At: 2026-02-09 16:31:55 UTC

Key Points

• Brics Pay aims to create an alternative payment infrastructure for cross-border transactions in national currencies, reducing reliance on Western financial systems.
• BRICS expansion (including Saudi Arabia, UAE, Iran) strengthens collective economic weight representing over 40% of global population.
• Experts caution Brics Pay remains a conceptual framework with pilot solutions, requiring long-term standardization and clearing mechanisms.
• China's push for yuan internationalization faces structural challenges due to limited currency convertibility compared to the US dollar system.
• While dollar dominance persists (57% of reserves), BRICS initiatives signal irreversible shifts toward parallel financial architectures.