Russian Finance Minister Anton Siluanov said that some countries included in the BRICS economic bloc already have their own digital currencies. According to the official, there is no need to create another one.

Anton Siluanov noted that instead of creating a single BRICS currency (an intergovernmental organization that includes Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates), an alternative settlement and payment infrastructure should be created.

“We are talking about creating an alternative financial settlement and payment system that would use national currencies, digital financial assets and digital currencies of the countries of our association. By the way, many central banks are already issuing their own digital currencies. There is no need to create another one,” Siluanov said in an interview with the RT Arabic television channel.

Thanks to the introduction of such a system, where national currencies and national digital currencies will be used, it will be possible to expand trade relations between states and attract additional investments, concluded the Minister of Finance of the Russian Federation.

Earlier, Deputy Minister of Finance Ivan Chebeskov said that Russia, together with regulators of the BRICS economic bloc countries, is preparing to launch the BRICS Bridge platform for settlements in national digital currencies.