Putin Proposes Digital Settlement System for BRICS Investment Platform

Photo TASS

Russian President Vladimir Putin suggested that digital settlements could be a key feature of the planned BRICS investment platform during his address at the 15th VTB Russia Calling! Investment Forum.

"This refers not merely to creation of digital settlement systems - we offered partners within the BRICS framework, and it was backed in general, creation of a digital investment platform, with settlements in digital units to become its component," Putin said, The Caspian Post reports, citing Russian media.

BRICS countries agreed to establish a working group on the basis of the New Development Bank. 

"We want to create such digital platform that will make it possible for us to invest in promising growing markets of South Asia and Africa - and do it by a reliable method that would be protected from inflation and enabled regulators, central banks, to promptly and flexibly respond to processes taking place in our association," he added.