New Delhi Hosts Important Meeting on Digital Assets
Digital asset companies from BRICS nations and their partners are getting ready to hold an important discussion in New Delhi. This meeting, taking place on September 12, is aimed at helping these companies gain a larger role in cross-border payments and institutional investments.
The event, known as the BRICS Digital Asset Round Table, will be hosted at The Oberoi and is expected to bring together 50 industry leaders. Attendees will work together to agree on a charter that outlines shared principles for the issuance, safekeeping, and settling of digital assets, all while focusing on protecting investors.
Organized by the Sovereign Wealth Fund Institute (SWFI), this roundtable will run alongside the inaugural iBrics investment summit, which is part of a larger gathering of BRICS leaders. The summit includes participants who collectively manage assets worth around $1 trillion, coming from sovereign wealth funds, pension funds, and family offices.
The discussions will center on how to attract institutional investment in various sectors like infrastructure, energy, real estate, and critical minerals through the process of tokenization. This means creating digital tokens that represent rights to actual assets. The goal is to find ways for investors to hold these digital instruments alongside their traditional investments.
Another key point of the discussions will be making central bank digital currencies effective for international use and enhancing connections between different payment systems, such as India’s UPI and Brazil’s Pix.
Lakshmi Narayanan, chairman of SWFI, highlighted the importance of bringing together those who allocate sovereign capital and those who create the needed infrastructure for digital assets. He emphasized the significance of this meeting in fostering collaboration between these groups.
Participants at the roundtable will include exchanges, custodians, tokenization platforms, stablecoin issuers, and blockchain infrastructure companies from 21 BRICS member and partner nations. Additionally, regulators, institutional investors, and representatives involved in national digital currency programs will join as observers.
The proposed BRICS Digital Asset Charter aims to serve as a framework within the industry that covers key areas like issuance, custody, settlement, and investor protection. Organizers believe this charter will provide a valuable reference for sovereign funds, central banks, and regulators dealing with cross-border transactions.
The roundtable will be co-convened by Kokila Alagh and Timothy James Popplewell, marking a significant moment for the future of digital assets in the BRICS nations.
