BRICS countries, including Brazil, Russia, India, China, and South Africa, are exploring the possibility of creating their own currency to challenge the dominance of the US dollar in global trade. This movement is gaining momentum as the USD’s grip on the global economy weakens. The dollar has been the world’s reserve currency since 1944, but its share of global foreign exchange reserves has declined from over 72 percent to 59 percent. BRICS countries, with a combined economy of $27.7 trillion, pose a significant threat to the dollar’s dominance. Additionally, the rise of cryptocurrencies like Bitcoin and XRP is further undermining the USD. Cryptocurrencies offer greater autonomy, economic freedom, and lower fees, making them attractive alternatives to traditional currencies. Countries such as Venezuela, Argentina, and Zimbabwe have already embraced cryptocurrencies as a means to escape the volatility of their own currencies. This trend is spreading to other regions, including Europe, where people are turning to cryptocurrencies like Bitcoin, Ether, and XRP. The growing adoption of cryptocurrencies, coupled with the efforts of BRICS countries to establish a common currency, could deal a significant blow to the USD’s global standing.