According to Russian media (TASS) reports, Russian President Vladimir Putin recently proposed establishing a digital asset platform within the BRICS alliance to promote investment in emerging markets through a unified digital asset system.
Speaking at the Valdai Discussion Club last week, Putin said:
We recommend that the BRICS countries establish a new investment platform and develop it combined with digital assets. In other words, such platforms should be created to invest in emerging markets, mainly in South Asia, Africa and parts of Latin America, through electronic payments.
Putin further pointed out that the reason for targeting these areas is that these areas are currently experiencing rapid population growth, capital accumulation and urbanization processes, and will have considerable development potential in the future.
If this proposal comes true, it will be expected to promote economic cooperation among BRICS countries and promote the gradual shift of the global economic center of gravity to emerging markets.
In addition, Putin also talked about Russia's restrictions on U.S. dollar transactions due to sanctions, noting that "Russia does not intend to completely abandon the U.S. dollar."
Instead, he criticized U.S. policies that restrict the use of the U.S. dollar in international markets, citing alternatives like the proposed BRICS digital asset platform that could reduce reliance on the traditional Western financial system.
"Increase investment in emerging markets! Putin wants to build a "BRICS Digital Asset Investment Platform"" This article was first published on (Block Guest).