Putin proposes BRICS digital asset platform to reshape investment in South Asia, Africa and Latin America

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Putin proposed the BRICS Digital Assets Forum to boost investments in South Asia, Africa and Latin America. The proposed platform aims to facilitate electronic payments and investments in high-growth regions.

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Russian President Vladimir Putin has proposed creating a new BRICS investment platform using digital assets to support emerging markets in South Asia, Africa and Latin America, Batas reported.

“We propose to create a new investment platform for the BRICS countries, using electronic assets,” Putin said at the Valdai Forum on Friday. This platform allows investment in developing markets mainly in South Asia, Africa and Latin America.

The platform enables electronic payments and investments in emerging markets with a focus on regions with high growth potential.

“We think that very strong demographic processes are taking place: population growth, capital accumulation, urbanization is enough and it will definitely grow,” Putin said.

BRICS Economic Group It expanded on January 1 to include Egypt, Ethiopia, Iran and the United Arab Emirates, joining the existing Brazil, Russia, India, China and South Africa.

The group extended a partnership invitation to 13 more countries at the recent summit in Russia.

At the 16th BRICS summit held in Kazan from October 22-24, members discussed expanding their global influence and developing alternatives to Western-dominated payment systems.

Putin has said Russia has no plans to abandon the U.S. currency despite a ban on the use of the dollar, though he has criticized U.S. policies that restrict dollar transactions.

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