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Brazil, which chairs the BRICS 2025 summit is eyeing to launch Chinese yuan-denominated panda bonds in the Asian markets. President Luiz Lula da Silva looks to launch the panda bonds as early as this year to strengthen trade and investments with Asian powers. The 17th BRICS summit is scheduled to be held in Brazil’s Rio de Janeiro in July and more details about the Chinese yuan-denominated bonds could be revealed next month. The move would make China reap the rewards of the changing dynamics of the financial sector. Also Read: BRICS Will Meet in July To Unveil Most Ambitious Plan: US Congressman Analysts state that Brazil intends to launch panda bonds to secure greater investments from China and other Asian countries. Brazil is using the situation for its benefit to receive new deals in return after the Chinese yuan bonds go live this year after the BRICS 2025 summit. “In many cases, I would think of (panda bonds) as a diplomatic move rather than a financial one,” said Graham Sto...

The ongoing tension between the global south and west has been a key matter of geopolitical uncertainty. That may only take a step forward as the BRICS 2025 president, Brazil, has reiterated its need to end the US dollar as 150% tariffs loom large over the nation. Speaking on the alliance’s operations, Brazil president Luiz Inacio Lula Da Silva noted that the group will not cease its de-dollarization approach. However, that may come with steep consequences. Indeed, US President Donald Trump has warned that there will be import taxes levied on nations that he views are seeking to “destroy” the greenback. Source: X Also Read: When Is the BRICS Summit in 2025? Brazil Re-Commited to Ditching the US Dollar: Will It Face Trump’s 150% Tariffs? The BRICS economic alliance operates on a rotating chairmanship model. This means that the alliance will be under the guidance of a shifting presidency, with one nation taking the mantle at the start of the year. In 2025, it is Br...

OKX has launched its crypto exchange and Web3 wallet in Brazil, marking a significant expansion into the Latin American market with a focus on providing secure and comprehensive crypto trading and defi services. Global web3 technology company OKX has recently expanded its reach by launching a crypto exchange and web3 wallet platform in Brazil. This move provides Brazilian users with direct access to decentralized finance and cryptocurrency trading. The introduction of the OKX platform in Brazil is notable for its inclusion of Brazilian real fiat-on-ramp capabilities, facilitating easier entry for local users into the crypto market. The OKX Exchange offers a comprehensive platform for trading a vast array of crypto currencies. It stands out with its advanced crypto Features , such as staking rewards and defi integrations, catering to both novice and experienced traders. As we continue our global mission to drive crypto forward, we're excited to announce the official launch ...

Brazil’s top financial institutions are preparing for the nationwide rollout of the central bank’s digital currency, Drex.  As Brazil’s central bank gears up for the introduction of its digital currency , Drex, leading financial institutions like Itau Unibanco, BTG Pactual and Santander Brasil are escalating their efforts. These major banks are increasing staff and investing in the technology infrastructure required for the nationwide implementation of Drex. Central Bank President Roberto Campos Neto has long been an advocate for digital assets, even as some of his global counterparts have taken a more conservative stance. Since his appointment in 2019, Campos Neto has maintained that blockchain technology is not just a passing trend but an innovation that can enhance the stability and efficiency of financial systems. Brazil central bank names its digital currency 'DREX,' scheduled for 2024 launch Brazil's central bank forthcoming digital cur...