One of the top initiatives for the BRICS economic alliance has now been spearheaded by one of its expanded nations. Indeed, after reports have signaled its place heading the project, Iran has recently stated its desire for a BRICS currency in 2024 to help ditch the US dollar.
For much of 2023, the BRICS economic alliance had made global de-dollarization its priority. Moreover, the bloc had been working on the development of its native trade currency. Subsequently, those two facets could converge on the development of a new digital asset that could arrive at some point this year.
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Iran Speaheading BRICS Digital Currency Development in 2024
Over the past several months, the BRICS economic alliance has not been shy about its goals. Indeed, the collective has assured its position opposing the US dollar. Subsequently, its efforts for a multipolar world have led it to challenge the greater global economic system. Many expect that perspective to create a new currency avenue for the countries within the alliance.
Following the expansion of the alliance, one country has now taken a stance to ensure that its de-dollarization efforts fasten. Specifically, Iran has stated its hope for a BRICS digital currency in 2024 to help countries ditch the US dollar within the coming year.
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“In the plans of 2024, I hope that these economic and financial pillars, especially banking and financial issues, payment systems, digital currency, common currency, exchanges with national currency, etc, will speed up and become operational,” Iran’s BRICS Representative stated according to recent reports.
However, the bloc as a whole has lessened anticipation for such a development. Still, the presence of increased local currency usage has become a key part of the BRICS initiatives heading into this new year. Whether or not headway on a digital native currency comes to fruition is a reality only time can answer.