Ryabkov further explained that the development of a platform to interconnect the digital currency systems of the central banks from the BRICS nations is also being studied. It is important to note that BRICS is comprised of Brazil, Russia, India, China, South Africa, Egypt, Iran, UAE, Saudi Arabia, and Ethiopia.
According to the Deputy Minister of Finance, discussions are currently underway regarding the integration of national systems for transmitting financial messages, and a dedicated exchange channel has already been established between the central banks.
“In practical terms, multiple options are being considered. For instance, settlements using stablecoins or the creation of a platform that would unite the financial systems of all participants,” Ryabkov explained.
Previously, Yuri Ushakov, the Russian Presidential Assistant for Foreign Policy, mentioned that BRICS aims to create an independent payment system based on blockchain and digital national assets.