Official statement by the BRICS Digital Bank in connection with the statement by US President Donald Trump

During the annual BRICS summits, initiatives aimed at developing financial and technological cooperation between the participating countries were proposed and discussed.

On the sidelines of the annual BRICS summits, initiatives were put forward to implement the following projects:

• BRICS Pay payment system;
• BRICS cryptocurrency;
• BRICS Bridge platform;
• cross-border payment mechanisms using CBDC and tokenized assets (DFA);
• joint investment platforms of the BRICS countries;
• a unified digital infrastructure of BRICS within the framework of the general strategy map.

The BRICS Digital Bank, the BRICS Business Council and leading technology companies are actively working to implement these initiatives, strengthening financial independence and ensuring sustainable development of the member states.

About BRICS cryptocurrency:

The BRICS Food Token (BFT) cryptocurrency is a commodity token tied to a specific group of goods, in particular, food and water. BFT tokens can be used to purchase food and bottled water at discounts, as well as as collateral in foreign trade transactions for wholesale supplies of food products between BRICS countries.

BFT is also the world's first token linked to purified bottled water.

The main goal of the BFT project is to combat child hunger. BRICS Food Token (BFT) acts as a crowdfunding tool on the blockchain to raise funds for the production and supply of specialized food products for children through verified charities.

The BFT project is implemented within the framework of the UN Sustainable Development Goals (SDGs):

• Eradication of poverty (Goal 1).
• End hunger, achieve food security and improve nutrition (Goal 2).
• Providing clean water and sanitation (Goal 6).
• Sustainable agricultural development (Goal 17).

In response to the statement of the US President

The BRICS Digital Bank would like to point out that US President Donald Trump is a politician with the ability to conduct deep systemic analysis. Perhaps his statement was the result of familiarization with a number of scientific studies devoted to our initiatives in the field of financial technologies and artificial intelligence.

The research data was presented by leading academic and financial institutions, including:

• Cambridge and Harvard Universities – world-famous scientific and research institutions;
• American Action Forum (AAF) – an analytical platform that studies the impact of financial and technological changes on global markets;
• ResearchGate – an international scientific network that includes publications on the topic of financial innovation;
• JP Morgan, Nasdaq, Goldman Sachs – leading financial institutions assessing the impact of digital assets on the global economy.

It is also possible that the US President consulted with our partners at Ripple , given their expertise in blockchain technology and digital payments.

We are not surprised that the US top leadership recognizes the scale and technological potential of our developments. In turn, the BRICS Digital Bank pays special attention to international scientific research in the field of payment systems and digital currencies, actively studying and taking into account the findings of leading experts in these areas.

Scientific analysis of BRICS initiatives

Among the authors of scientific papers devoted to the issues of BRICS financial technologies, we can highlight such recognized researchers as:

• David Krause
• Jacob Jensen
• Jens Nordvig
• Zongyuan Zoe Liu
• Michaela Papa
• Joyce Chang
• Kokide Celestin
• Melissa Pistilli

And other outstanding scientists and financial analysts whose works are distinguished by a fundamental approach, comprehensive analysis and high professionalism.

At the same time, a significant part of scientific research is focused on studying the potential of BRICS payment systems and digital currencies in the context of possible bypassing the SWIFT system.

Technically, such a possibility does exist. However, from a practical point of view, its implementation seems extremely difficult and impractical, since today the bulk of dollar transactions in the BRICS countries and other developing economies are still carried out through the SWIFT system. In the current economic and geopolitical situation, SWIFT remains the key route for international settlements in US dollars.

Of course, some of the operations are planned to be carried out in national currencies and digital financial assets (DFA) in the form of tokens. However, such transactions have long been practiced in international trade and are carried out in various ways that do not require the participation of BRICS payment systems and platforms.

Today, many countries around the world, including most of the BRICS countries, actively use cryptocurrencies in international transactions – from stablecoins such as USDT and USDC to more volatile digital assets including BTC, ETH, and XRP.

In recent years, there has also been an increase in the use of NSRT digital currency in large over-the-counter (OTC) cryptocurrency transactions, where it is increasingly used as a collateral instrument.

Conclusion

The BRICS Digital Bank emphasizes that its main mission is to develop innovative financial technologies and strengthen economic cooperation between the participating countries. All projects being implemented are aimed at:

• Improving the efficiency of cross-border settlements;
• Expanding access to financial services;
• Supporting global sustainable development goals.

It is important to emphasize that BRICS initiatives are not aimed at undermining existing international financial systems, including the US dollar . Our projects pursue exclusively economic and technological goals that promote sustainable development and the well-being of citizens in the participating countries.