Emission of stablecoin within BRICS and prospects for implementation in mutual trade

Abstract

Since its inception, cryptocurrency has become a widely discussed yet often misunderstood financial technology. This paper focuses on a specific type of cryptocurrency – stablecoin, which with state regulation and implementation in foreign trade operations could serve as a cost-effective
payment system bypassing SWIFT. For Russia, adoption of digital technologies in foreign economic activity as part of integration initiatives to bypass the imposed sanctions has become particularly relevant. In current conditions, the BRICS bloc plays an important role. Therefore the paper explores the feasibility of implementing digital technologies in foreign economic activity within the bloc.