RATE Group | BRICS Member Nations see Potentials in Cryptocurrency – Product Release & Updates
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BRICS Member Nations see Potentials in Cryptocurrency – Product Release & Updates

17 Nov BRICS Member Nations see Potentials in Cryptocurrency – Product Release & Updates

Posted at 07:09h in Cryptocurrency News by

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BRICS Member Nations see Potentials in Cryptocurrency

China, Russia, and the other members of the international group of emerging nations BRICS have revealed plans to create a cryptocurrency for payment settlement.

The BRICS member nations consist of Brazil, Russia, India, China, and South Africa. They recently held the association’s 11th summit on the 13th and 14th of November in Brazil.

Accordingly, during the summit, the group reportedly looked into the idea of creating a common payment system, primarily to ease the settlements between the member countries.

CEO of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev revealed the plans from the BRICS forum.

Dmitriev mentioned that the member nations plan to create a single payment system. As well as, settle the transactions in a single cryptocurrency. Also, he added that the BRICS

Business Council supported the idea.

Dmitriev also commands a place as a member of the council. He said the efficiently operating BRICS payment system enables settlements in national currencies. It also…

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