The Role of BRICS in Global Crypto Adoption

BRICS has emerged as a strong force in the politics and economics of the world in recent years. BRICS are Brazil, Russia, India, China, and South Africa. This was formed to create a more balanced world power, especially against Western countries such as the United States and European countries. BRICS is increasingly becoming involved in international finance, and that extends to cryptocurrency as well.

This blog will explain what BRICS is, how it grew over time, and why it matters for crypto adoption around the world. We will also look at the efforts BRICS is making to reduce the use of the U.S. dollar and how that helps crypto grow. Whether you are new to crypto or just want to understand global finance better, this guide will break things down in a simple and easy way.

What Is BRICS?

BRICS is a coalition of big, rapidly developing nations that collaborate to shape the decisions in the world. It began in 2009 with Brazil, Russia, India, and China. In 2010, South Africa became a member. Such nations felt that the world was dominated by international institutions such as the World Bank or the International Monetary Fund (IMF), which were dominated by the wealthy Western nations. Therefore, they have created BRICS to empower the developing countries.

The main goals of BRICS are to:

• Work together in world politics and economics
• Push for changes in global rules and systems
• Support each other’s growth and development
• Reduce the need to use the U.S. dollar in trade

Today, BRICS is not just about these five countries. More countries have joined or are thinking about joining. This makes the group even more important in shaping how the world handles money and technology, including crypto.

Why Does BRICS Matter for Crypto?

Cryptocurrency is all about freedom, speed, and cutting out the middleman. That’s something many BRICS countries want too. These nations are tired of relying on U.S. dollars, banks in the West, and payment systems controlled by Europe or America. Cryptocurrencies offer a way to move money without those traditional tools.

Here’s how BRICS helps global crypto adoption:

• Reducing Dollar Use: BRICS wants to trade more in local currencies instead of the dollar. Crypto can be used to make international payments easier and faster without going through U.S. systems.
• Creating New Financial Tools: BRICS is building its own banks and financial platforms. This could include blockchain or crypto-friendly tools in the future.
• Support for Tech Innovation: Countries like China and India are already leaders in digital payments and blockchain. Their support for BRICS means that crypto can grow in regions that need it most.

How Did BRICS Grow?

The term “BRIC” was first used in 2001 by an economist from Goldman Sachs. He said these four countries (Brazil, Russia, India, China) would grow faster than others and become major world players. In 2009, Russia called a meeting of these countries to talk about working together. South Africa joined later, and the name became BRICS.

In 2023 and 2024, BRICS expanded even more. New members included:

• Egypt
• Ethiopia
• Iran
• Saudi Arabia
• United Arab Emirates (UAE)
• Indonesia

Some countries like Argentina were invited but chose not to join. Other countries—like Malaysia, Nigeria, and Turkey—are now waiting in line. More than 30 countries want to be part of BRICS or become “partner countries.” This shows that BRICS is seen as a rising power.

As BRICS grows, its influence over digital money and crypto also increases.

BRICS and the Fight Against the Dollar

Among the largest objectives of the BRICS is to diminish the use of the U.S. dollar in international trade. Dollar remains the currency of most international transactions. However, BRICS countries believe that this gives U.S too much power. The U.S. can deny a country dollars or banks access in case the country is to be punished.

In order to contend this, BRICS leaders desire to:

• Local currency trading (Chinese yuan or Indian rupees etc)
• Create a new currency for all of BRICS

Find out about blockchain and crypto as a method of cross-border payment

It is even argued that BRICS is considering the construction of its own cryptocurrency. This would be a gigantic step. It would imply that BRICS had the possibility to transfer funds without the involvement of Western banks or payment systems, such as SWIFT.

Can BRICS Create a Crypto Currency?

Brazil’s President Luiz Inácio Lula da Silva has spoken in favor of a BRICS currency. Some experts say this currency could be a digital one, like a crypto token. Others think BRICS might build a “basket currency,” which means it is based on all members’ currencies combined.

Still, this is not easy to do. To launch a shared currency, countries would need to agree on big financial rules. This includes:

• Setting up a joint bank system
• Controlling inflation together
• Following the same interest rates and policies

These are very difficult to achieve as members of BRICS have different economies. As an illustration, China is very wealthy compared to South Africa. There are political tensions between India and China as well. However, crypto could be a quicker and less complicated way. A common crypto token would not require complete financial integration.

BRICS Financial Tools and Crypto Potential

To help its members, BRICS created its own financial institutions:

• New Development Bank (NDB): Gives loans for roads, clean energy, and more.
• Contingent Reserve Arrangement (CRA): Helps if a member’s currency drops fast.

These tools are meant to be like the World Bank and IMF. But they are smaller and mostly serve BRICS countries. Still, they open doors for using blockchain and crypto.

For example, the NDB could use blockchain to track where loans go. It could also accept crypto from countries that can’t use dollars. This would make funding faster and more transparent.

Blockchain in BRICS Countries

Many BRICS members already support blockchain and crypto in different ways:

China

• Has its own Central Bank Digital Currency (CBDC), the Digital Yuan
• Is a leader in blockchain technology
• Wants more control over digital payments

Russia

• Turned to crypto to avoid Western sanctions
• Promotes mining and use of crypto for trade
• Wants to link oil trade with digital currencies 

India

• Has a growing crypto user base
• Started a digital rupee pilot
• Wants to regulate crypto, not ban it

Brazil

• Strong fintech market
• Open to digital innovation
• Supports stablecoins and digital banking

South Africa

• Testing blockchain for banking
• Friendly towards crypto innovation
• Home to many crypto startups

These countries are laying the foundation for crypto adoption, especially in global trade and finance.

Divisions in BRICS and Their Impact

Even though BRICS has big dreams, its members don’t always agree. There are political and economic differences:

• China and India have border tensions
• Russia is isolated due to the Ukraine war
• Saudi Arabia and Iran are long-time rivals
• Some countries support democracy, others do not

These issues make it hard to agree on a single crypto plan. Still, smaller steps, like using crypto for trade or creating national digital currencies, are already happening.

Crypto and the Global South

One big idea behind BRICS is to help countries in the Global South. These are countries in Africa, Latin America, and Asia that have not had a strong voice in world finance. Many of them face:

• Expensive banking systems
• High inflation
• Slow cross-border payments
• Lack of trust in local banks

Crypto can help solve these problems. It allows people to send money fast and cheap. It offers more control over personal finances. And it can protect against inflation by offering alternatives to weak currencies.

As BRICS invites more Global South countries to join, the demand for crypto-based tools is likely to grow.

Western Reactions and Challenges Ahead

Western countries have mixed feelings about BRICS. Some say the group is not a real threat. Others worry it could weaken the dollar or global institutions like the IMF.

The U.S. has criticized BRICS in public statements. Former President Donald Trump even called BRICS “dead.” But behind the scenes, many experts agree that BRICS is growing, and so is its impact on crypto.

The biggest challenges for BRICS are:

• Lack of unity
• Complicated politics
• Economic instability in some members
• Smaller financial power compared to the West

Even so, the group’s crypto-friendly goals could still succeed, especially if more countries join.

What’s Next?

The 2025 BRICS summit is being held in Brazil. Two major leaders, China’s Xi Jinping and Russia’s Vladimir Putin, won’t attend in person, but they will likely join online. The focus will be on:

• Reforming global finance
• Helping Global South nations
• Growing BRICS membership
• Exploring new technologies, including digital currencies

If BRICS continues to grow and work together, we may soon see:

• More trade in crypto
• BRICS-backed digital tokens
• Blockchain use in development projects
• Reduced power of the dollar in global trade

These changes could shape how the whole world uses money.

Final Thoughts

BRICS is more than just a group of countries. It is a sign that the world is changing. People want more fairness in how global finance works. They want faster payments, better technology, and less control by any one country.

Cryptocurrency fits right into that vision. It gives people freedom, speed, and lower costs. BRICS countries understand this. While they still face many challenges, their support for crypto is growing fast.

As BRICS keeps pushing for a new world financial order, expect digital currencies, whether Bitcoin, national digital coins, or a future BRICS token, to play a big role. The future of money may not belong to just the West anymore. It may be shared by everyone.

FAQs

1. What is BRICS?

BRICS refers to emerging economies: Brazil, Russia, India, China, and South Africa. The organization was established to enhance economic and political collaboration and to provide an alternative voice to the Western powers when it comes to international decision-making.

2. Why is BRICS important for cryptocurrency?

BRICS nations desire to abandon the use of the U.S. dollar and are investigating digital payments, blockchain technology, and even their version of cryptocurrency. This assistance assists crypto to flourish in the developing world.

3. Is BRICS planning to launch its own cryptocurrency?

It has been suggested that a BRICS-wide digital currency or a common crypto token should be introduced. Although this concept remains in its infancy, there is a lot of interest among leaders particularly in Brazil and Russia.

4. How does BRICS affect global finance?

The members of BRICS are establishing their own banks and financial systems in order not to rely on Western organizations such as the World Bank and IMF. The new systems may embrace blockchain and crypto to enable quicker and cheaper financial services.

5. Which BRICS countries support blockchain the most?

Countries like China, India, and Russia are already using blockchain in national projects. China has launched a central bank digital currency, and Russia supports using crypto in international trade.

6. What is de-dollarization?

De-dollarization means using currencies other than the U.S. dollar in global trade. BRICS supports de-dollarization and may use crypto or local currencies for this goal.

7. Can BRICS really challenge the U.S. dollar?

Not fully, at least not yet. The U.S. dollar is still used in most of the world’s trade. But BRICS is taking steps to reduce dollar use—and crypto might help speed up that shift.

Glossary

BRICS
A group of countries—Brazil, Russia, India, China, and South Africa—working together for economic and political power outside of Western control.

De-dollarization
The process of moving away from using the U.S. dollar in trade and finance.

Cryptocurrency
A digital form of money that works without a central authority, such as Bitcoin or Ethereum.

Blockchain
A secure, digital ledger system that records transactions across many computers.

CBDC (Central Bank Digital Currency)
A digital version of a country’s official currency, created by the central bank.

New Development Bank (NDB)
A bank created by BRICS to give loans for building infrastructure and development in member countries.

Contingent Reserve Arrangement (CRA)
A BRICS financial tool that offers help to members during a financial crisis.

Global South
A term used to describe developing nations, mostly in Africa, Asia, and Latin America.

SWIFT
The global messaging system banks use to send and receive money instructions. BRICS countries want to move away from it.

Reserve Currency
A strong currency held by many governments and banks for international trade—currently, the U.S. dollar is the top one.

Summary

BRICS is composed of Brazil, Russia, India, China, and South Africa. It is now a strong force that wishes to end the dependence of the world on the U.S. dollar and establish a new financial order. With the increasing number of countries joining BRICS, the organization is looking at the possibility of utilizing cryptocurrency and blockchain to facilitate international trade, make digital payments, and achieve economic sovereignty. This blog describes the development of BRICS, its aim to encourage de-dollarization, the concept of introducing a BRICS digital currency, and the role that crypto will play in its strategy. With strong interest from Global South countries, BRICS could be a major force in spreading crypto adoption worldwide.