Announced at the 16th BRICS+ Summit, Kazan, Russia 22-24 October 2024

During the 2024 BRICS Summit, Chinese President Xi Jinping made a landmark announcement, unveiling the bloc’s plans to introduce the BRICS Pay system, a revolutionary payment platform to enhance economic cooperation and autonomy among member nations. Xi emphasised the need for BRICS to lead global efforts to reform international financial architecture.