Global momentum builds for local currency adoption replacing the US dollar

Countries

Cooperation areas

Economic Growth Inclusive Multilateralism

Source: Meio Norte | Original Published At: 2026-02-25 12:18:00 UTC

BRICS is promoting local currency transactions and developing the BRICS Pay digital system to reduce USD dependency in global trade
Brazil-China cooperation using blockchain technology demonstrates practical steps toward de-dollarization
Full USD replacement remains a medium-to-long-term challenge due to geopolitical resistance and existing financial infrastructure
Expanded BRICS membership (now 11 countries) represents 48.5% of global population and 30% of world economy
Member states are adjusting internal financial systems and compliance frameworks to accommodate local currency trade mechanisms