BRICS e-payment platform on track – Russia’s top senator

Plans for a BRICS digital payment platform, named BRICS Bridge, are advancing, according to Russia’s Federation Council Speaker Valentina Matviyenko.

She reported that discussions are ongoing with the central banks and finance ministries of BRICS countries, including new members. As BRICS chair, Russia is leading the initiative.

Matviyenko expressed optimism that the platform could be endorsed at the BRICS summit in Kazan this October.

The new system aims to provide an independent financial payment platform amidst global sanctions and the decline of the US dollar. Matviyenko highlighted that this initiative could set a global trend, with discussions also occurring within the Shanghai Cooperation Organisation (SCO).

Attribution: TASS