Subject. The article focuses on new digital tools for mutual payments. Objectives. I study the specifics of BRICS trade and the digitalization of the Chinese economy in order to find new ways of the international cooperation and the creation of the digital currency of the central bank. Methods. I use methods of the logic, comparative and statistical analysis. Results. I analyzed international settlements among the BRICS countries to review key trade partners, integration development ways and serious barriers hampering it. The article indicates the key trade partner, that is China, which has become a turning point in the study. I provide the more thorough rationale for implementing the digital currency of the central bank, and evaluate the future scenario of using the digital yuan worldwide and in the BRICS countries. The article reviews the creation and development of the digital ruble, classifies possible applications of the digital currency and forecasts which one will succeed most. Conclusions. The study evaluates the future scenario of the digital ruble implementation to meet needs of the government, State, individuals and legal entities. It also spotlights possible advantages and risks of the third monetary reform. The aspect has not be sufficiently elaborated scientifically and practically, being a pending agenda for discussion. The findings can be used by the Bank of Russia and commercial banks.
Keywords: BRICS, mutual settlements, national currency, international trade, digital yuan, digital ruble
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