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Jinse Finance reported that Olga Skorobogatova, the first deputy governor of the Russian central bank, talked about the plans for the Russian central bank's digital currency (CBDC). interest in international applications to reduce its exposure to the U.S.-dominated financial system represented by SWIFT and Western clearing houses. The most important thing is an agreement between two or more countries, but if such an agreement is reached, then the integration of digital currency can really replace SWIFT, because the payment and information about digital currency will be on a completely different settlement basis than it is now facility.
The pilot will run between 2023 and 2024, but it will only involve 13 banks and a limited number of customers and transactions. The trial has been postponed because some laws are pending, but should start around the end of this month. A BRICS common currency could be a breakthrough that could greatly simplify settlements between our economies. But it's not easy, it's a long process.