Putin: Digital currency is expected to become the settlement method for the BRICS countries' investment platform

According to Bitcoin.com, Russian President Putin recently considered the role that national digital currency might play in the future of the organization. At the "Voice of Russia" forum organized by VTB Bank, one of Russia's largest financial institutions, Putin mentioned these digital assets and acknowledged expert predictions that using these assets and their related infrastructure would be beneficial for global growth in finance. As part of this new model, Putin believes that the digital ruble, which is still in a pilot phase, will play an important role in the future. He recalled that 9,000 citizens and 1,200 companies participated in this pilot phase. The digital ruble will be used for federal budget system settlements next year and is planned to fully launch in July.

Putin then linked these digital assets with the upcoming BRICS investment platform implying they would be used as tools for completing multilateral settlements. He emphasized that Russia's leading position in financial technology enables it to "establish relationships with foreign partners, promote integration projects and benefit from merging economic potentials from different countries."

In news from yesterday at the same forum mentioned above , Putin highlighted characteristics of cryptocurrencies especially bitcoin compared to US dollar pointing out no one can ban it currently as it exists now; moreover such technologies will continue existing adapting themselves so as to avoid external restrictions or interference from third parties.