BRICS countries want to create a payment system with digital currency and blockchain

A group that includes Brazil, China, India and Russia will work on creating its own system for cross-border payments

BRICS countries will test technology.

The BRICS countries, a group that brings together nine of the world's leading emerging economies, are working on creating a cross-border payment system that will include the use of digital currencies and blockchain technology. The information was revealed by the Russian state news agency Tass this week.

In an interview with the agency, Yury Ushakov, an advisor to the Russian presidency, said that the creation of an "independent payment system" by the group is an "important goal for the future". He believes that the system would need to rely on "the latest technologies", such as blockchain.