Russian President Putin proposed to establish a digital asset platform within the BRICS alliance

ChainCatcher news, according to Cryptoslate, Russian President Putin proposed the establishment of a digital asset platform for BRICS countries during a speech at the Valdai Discussion Club, aiming to promote electronic payments and attract investment from developing markets through a unified digital asset system. This initiative is intended to facilitate investment flowing into emerging economies in South Asia, Africa, and Latin America, and could provide new channels for capital in high-growth regions.

Putin emphasized the platform's potential to drive economic development in rapidly urbanizing areas. He highlighted the growth opportunities in these regions and pointed out that factors such as population growth, capital accumulation, and rising urbanization rates support the platform's focus.

Putin discussed Russia's restrictions on dollar transactions due to sanctions and noted that Russia does not intend to completely abandon the dollar. Instead, he criticized the U.S. policies that limit the use of the dollar in international markets and stated that alternatives like the proposed BRICS digital asset platform could reduce dependence on the traditional Western financial system.