Claim: “BRICS countries say they will soon launch a new digital currency to reduce dependency on the US dollar.”
Conclusion: Misleading. BRICS leaders did not announce the launch of a single new BRICS digital currency to replace US dollar but they had agreed to explore a common cross-border payment systems, known as “BRICS Pay”, which remains on their agenda still.
Rating: Misleading — 
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On August 10, 2025, the X (formerly Twitter) users posted messages which stated that the BRICS countries had announced they would “soon launch [a] new digital currency” aimed at reducing dependency on the U.S. dollar. The post included an image showing the flags of BRICS member nations alongside a photo of U.S. President Donald Trump.
The claim suggests that all BRICS member states – Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Iran, and Indonesia – collectively decided to introduce a single digital currency. According to the post, this announcement was made by BRICS leaders as part of their economic cooperation efforts, though no specific location of the announcement was mentioned in the tweet.
BRICS countries say they will soon launch new digital currency, aimid reducing dependency on the US dollar. pic.twitter.com/O3ox4ugm3V
— African Hub (@AfricanHub_) August 10, 2025
BREAKING:
BRICS countries say they will soon launch new digital currency, aimid reducing dependency on the US dollar. pic.twitter.com/zdLKlgtrpL
— BriefCast NG (@BriefCastNg) August 10, 2025
BREAKING:
BRICS countries say they will soon launch new digital currency, aimid reducing dependency on the US dollar. pic.twitter.com/4EzRmdFe5t
— World Affairs (@World_Affairs11) August 10, 2025
FACT CHECK
DigitEye India investigated the viral claim by reviewing official BRICS communications and authentic news reports. The BRICS Leaders’ Declaration from the Rio de Janeiro Summit (July 2025) outlines commitments to expand local currency usage and improve cross-border payment systems, but makes no mention of launching a single unified BRICS digital currency.
No launch date, technical framework, or implementation details were provided in any official statement, especially in view of opposition from the US President Donald Trump on July 7, 2025, demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the U.S. dollar, saying they would otherwise face 100% tariffs.
To verify further, DigitEye India team checked reports from Reuters, which confirmed that Brazil, the current BRICS chair, ruled out advancing a common currency in 2025, focusing instead on payment cooperation and local currency settlements. Further search revealed that the Official Monetary and Financial Institutions Forum (OMFIF) has described the BRICS currency idea as “still theoretical,” with major logistical and political challenges ahead.
Click on the below image for Rio de Janeiro, Brazil 6 July 2025 Declaration:
In reality, member countries are pursuing separate national digital currency projects, such as China’s e-CNY and Russia’s digital rouble, but these are independent initiatives, not a bloc-wide system. The “soon launch” claim is, therefore, misleading and lacks any factual basis from official BRICS channels or top-tier financial authorities.
