Digital currency message from Putin before the BRICS summit

Russian President Vladimir Putin said at the press conference he held today that they will propose the use of digital currencies in the investment processes for the BRICS.

Russia will invite BRICS countries to use digital currencies in their investment processes. The statement came from President Vladimir Putin.

According to the news of TASS, Putin said at the press conference he held before the BRICS summit, which will start on October 22, "I will not go into details, but we want to present a very important issue to the members of the BRICS at the moment. This issue is related to the use of digital currencies in investment processes," he said.

“We can create an instrument that will coincide with the interests of the BRICS member countries, but also for other developing economies, and in practice will not be inflationary,” Putin said.

Putin said that consultations on the issue are still ongoing:

“We are currently in consultations with our Chinese and Indian friends, we have just met with Brazilians. We will definitely talk to South Africa. We will do this with everyone. We are moving forward slowly.”

Russian Deputy Finance Minister Sergei Ryabkov announced that he was discussing the possibility of paying BRICS with fixed coins. Putin also said in a statement at the end of September that the BRICS is working on an independent payment system to be used in international trade.

Finally, Putin said at today's press conference, "Our door is open to new members." As it is known, Turkey also announced that it was willing to participate in BRICS. The Union consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates.