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18 de abr. de 2025For instance, China has developed a system known as the Cross-Border Interbank Payments System (CIPS). Russia would like to see these systems integrated across 28 de abr. de 2025In a move set to rattle Western economic hegemony, China has officially launched its long-anticipated alternative to the SWIFT payment system, ushering in a new era of 2 de feb. de 2025In what is certainly a landmark development for the BRICS alliance, China and the United Arab Emirates (UAE) have completed the first cross-border Central Bank Digital 8 de nov. de 2025The BRICS bloc, led by China, is developing a CBDC to replace the SWIFT system. This move signifies a broader shift away from U.S. dollar dominance in global finance. Amid the BRICS bloc’s enhanced de-dollarization efforts, the alliance could be set to embrace a central bank digital currency (CBDC) alternative to the Western swift, spearheaded by China, the 29 de abr. de 2025BRICS continues to develop a cross-border payment system that would provide an alternative to SWIFT and minimize reliance on the dollar. Success in the endeavor would

BRICS CBDC: China & UAE Spearhead SWIFT Alternative - A New Era of Global Finance

The BRICS bloc, led by China, is actively developing a Central Bank Digital Currency (CBDC) poised to replace or offer a significant alternative to the SWIFT system. This bold move signifies a major shift away from U.S. dollar dominance in global finance and aims to foster greater financial independence for member nations. Amid enhanced de-dollarization efforts, the alliance is accelerating its plans for a CBDC alternative to the Western SWIFT system, spearheaded by China.

China & UAE: A Pioneering Partnership

In a landmark development for the BRICS alliance, China and the United Arab Emirates (UAE) completed the first cross-border Central Bank Digital Currency transaction (reported 2 de feb. de 2025). This signals a deepening cooperation and a concrete step towards realizing a functional and widely adopted BRICS CBDC.

Why a SWIFT Alternative?

The BRICS nations are seeking to reduce their reliance on the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system, which is largely controlled by Western economies. The goal is to create a more resilient and independent financial infrastructure. As reported 29 de abr. de 2025, BRICS continues to develop a cross-border payment system that would provide an alternative to SWIFT and minimize reliance on the dollar. Success in the endeavor would lead to greater economic sovereignty.

China's Role and CIPS

China is playing a crucial role in this initiative, leveraging its technological advancements and economic influence. For instance, China has already developed the Cross-Border Interbank Payments System (CIPS). Russia, as reported 18 de abr. de 2025, would like to see these systems integrated across the BRICS nations to enhance interoperability and efficiency.

BRICS CBDC: What to Expect

The development of a BRICS CBDC is expected to unfold over the coming years. The official launch of China’s long-anticipated alternative to the SWIFT payment system, ushering in a new era, was a key milestone (reported 28 de abr. de 2025). While specific details are still emerging, the goal is to create a secure, efficient, and accessible cross-border payment system that facilitates trade and investment among BRICS nations and beyond. The projected timeline anticipates significant progress by 8 de nov. de 2025.

Keywords: BRICS, CBDC, SWIFT, China, UAE, Cross-Border Payments, CIPS, De-dollarization, Central Bank Digital Currency, Global Finance, Alternative Payment System.

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