Major Country Wants To Join BRICS and Ditch the US Dollar
The BRICS alliance is attracting new members from all corners who want to join the bloc and ditch the US dollar for trade. The alliance is becoming lucrative for developing countries that want to strengthen their local currencies and native economies. These nations are eager to break free from the clutches of the US dollar and make either their local currencies, CBDCs, or even Bitcoin the legal tender for cross-border transactions. Also Read: China Approves New BRICS Member One such country is El Salvador, which is exploring the options to join the BRICS alliance in 2024. El Salvador is the first country to legalize Bitcoin and also owns $400 million worth of BTC in their reserves. BRICS member Russia has been sanctioned by the US for nearly two years and is looking to settle trade without the dollar. The sanctions are allowing El Salvador to sign new deals with BRICS member Russia . Russia needs a mutual understanding with El Salvador to navigate its economy without depending on ...