🪙 Prospects for a Single Framework of CBDC-Based Cross-Border Payments in the BRICS Countries. Part 1

Since the dawn of the 21st century, the #BRICS nations—🇷🇺 Russia, 🇧🇷 Brazil, 🇮🇳 India, 🇨🇳 China, and 🇿🇦 South Africa—have emerged as key players among developing economies, collectively accounting for 35% of the global gross product.

The profound transformational shifts driven by the current geopolitical landscape have prompted a re-evaluation of existing international trade models, igniting a surge in innovative solutions for the technological advancement of the global financial system.

One of the key focus areas for the BRICS central banks is the digitalisation of monetary transactions and pilot exploration of Central Bank Digital Currencies (CBDCs).

📎 Read more in our new article by Victor Dostov, Chairman of the Board of the Russian Electronic Money and Remittance Association, expert of the BRICS Expert Council-Russia.

More #BRICS analytics is available on the official website of the BRICS Expert Council-Russia.

#ANALYTICS #BRICSExpertCouncilRussia #BRICSExpertCouncil

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