Putin proposes cryptocurrencies as a solution for settlement in BRICS CBDCs.

Russian President Vladimir Putin presented a new financial horizon for the BRICS countries during the “Russia Calling!” forum, organized by VTB Bank.

Putin highlighted the strategic role of national digital currencies and cryptocurrencies in the bloc’s effort to reduce dependence on the dollar in international transactions.

He mentioned that experts have already predicted that the use of digital assets and their infrastructures would benefit global economic growth.  During the event, the Russian president reinforced the potential of these technologies to transform the global financial system.

The digital ruble, which is in the pilot phase, occupied an important part of Putin’s speech.  He revealed that 9,000 citizens and 1,200 companies are already participating in this initial stage.

Next year, the Russian government intends to integrate the digital ruble into the federal budget settlement system, with a launch for the general public scheduled for July.

Source: CriptoFácil