BRICS is transitioning to stablecoins - Deputy Minister of Finance of Russia, Ryabkov

According to the official, discussions are ongoing within BRICS about the possibility of making payments in stablecoins, both using the existing infrastructure and by creating a wholly new system.

The BRICS Bridge project is currently under consideration and involves linking the digital financial systems of the member states. Essentially, it's like a cryptocurrency exchange but on the BRICS level. This is to avoid the obvious sanctions that would immediately be imposed on a stablecoin traded by Russia.

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