The Chairman of the Russian Federation Council, Valentina Matvienko, has stated that the BRICS bloc could use cryptocurrency, specifically central bank digital currencies (CBDCs), for its new payment system.
Matvienko suggested that the proposed BRICS payment system, which is part of the bloc’s efforts to de-dollarize the global economy, could utilize the digital currencies of all member states.
She noted that this would ensure the freedom of the payment system from actions like US sanctions, as “none of the participants will be able to limit the actions of others” through the use of decentralized trading.
The search results also indicate that the Kremlin has announced the creation of a blockchain-based payment system within BRICS, which would be “based on state-of-the-art tools such as digital technologies and blockchain.”