Together with the central banks of the BRICS countries, Russia is working on the creation of the BRICS bridge settlement and payment infrastructure.
Publika.az “Izvestia” newspaper reported on this with reference to Ivan Chebeskov, Deputy Minister of the Russian Federation.
Chebeskov said that the BRICS bridge platform will be designed for settlements in national currencies, including digital currencies.
The experts who gave an interview to the publication noted that in the context of Western sanctions, there is an extremely great need to create independent means of regulation among the BRICS states. A single platform created on the basis of digital and financial assets will increase the impersonality and independence of payments, make direct payments between partners from different countries, significantly increase the speed of transactions and reduce the number of intermediaries. In addition, the creation of such infrastructure will increase the competitive advantages of the BRICS countries.
Experts emphasized that all BRICS countries should make necessary changes to the legislation in order to launch a new platform related to payments in national currencies, including digital currencies.
Huseyn Ibadli
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