Dollar to Remain Central to Global Trade Despite BRICS Efforts

Rogers Capital Consultancy CEO Chip Rogers believes that despite efforts by BRICS nations to reduce their reliance on the US dollar, it will remain central to global trade in the near future.

Speaking at the sidelines of the BRICS Summit 2026, Rogers noted that around 99% of stablecoins are backed by US Treasuries or the US dollar, a trend he expects to continue.

'I know there's a goal to have trade outside of any currency that is backed by the US dollar or any digital asset that's backed by the US dollar,' Rogers said. 'I don't think that's going to happen overnight.'

Rogers also stated that BRICS nations are unlikely to introduce a common currency, instead focusing on technology to enable smoother cross-border transactions.