BRICS Launches New Payment System to Bypass US Dollar

BRICS countries have introduced a new payment system, DCMS, based in Brazil, aimed at facilitating cross-border trade settlements without relying on the US dollar. According to NS3.AI, this system utilizes Brazil's Pix instant transfer technology and operates on a decentralized blockchain network. It connects major member states and integrates local currencies and digital national currencies. Meanwhile, investor sentiment towards the dollar is becoming increasingly negative, supporting BRICS' initiative to minimize dependence on traditional dollar-based systems.