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BRICS looking at creating common digital payment platform

Russian Deputy Foreign Minister Sergey Ryabkov said that BRICS nations have already established a special channel for information exchange between their central banks

MOSCOW, April 19. /TASS/. BRICS nations are looking at establishing a platform unifying their financial systems, Russian Deputy Foreign Minister Sergey Ryabkov said.

"Several options are being weighted in practical terms. For instance, settlements in stablecoins or the establishment of a platform unifying financial systems of its member states (the so-called BRICS Bridge multisided payment platform). Possible unification of national financial messaging systems is being discussed," he said in an interview with TV BRICS.

Russian Finance Minister Anton Siluanov said earlier that the ministry along with the Bank of Russia and RICS partners would draft a number initiative to improve the international currency and financial system and would consider issues related to the establishment of the BRICS Bridge platform for multisided digital payment platform.

BRICS nations have already established a special channel for information exchange between their central banks, Ryabkov added.

"The finance ministers and central bank governors have had their contacts. The face-to-face meeting was held in February in Sao Paulo," he said. "With the digitalization of many banking processes, security in the storage and transmission of data is at the forefront. We have already established a special channel for information exchange between central banks and approved regulations for co-operation in the field of information security."

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Foreign policy BRICS Sergey Ryabkov

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