The BRICS bloc, an influential group comprising Brazil, Russia, India, China, and South Africa, is actively exploring innovative financial mechanisms for its transactions.
Specifically, according to Russian Deputy Foreign Minister Sergey Ryabkov, there's significant interest in leveraging stablecoins as a part of the bloc's payment infrastructure.
In a discussion with TV BRICS, Ryabkov disclosed that these digital assets, along with a network connecting the Central Bank Digital Currencies (CBDCs) of member countries, are under consideration.
This initiative aims to enhance and streamline the international settlements among the BRICS nations, signifying a move towards integrating modern financial technologies within their economic frameworks.