The Reserve Bank of India (RBI) has suggested linking the official BRICS Digital Currencies countries. It makes cross-border trade and tourism payments easier, according to Reuters, which cited two officials familiar with the situation.
RBI Planning to Links BRICS Digital Currencies
The RBI has asked the government to add this issue to the agenda for the 2026 BRICS summit, which India will host later this year. If accepted, it would be the first formal effort to connect the central bank digital currencies (CBDCs) of BRICS members. This move could lessen reliance on the US dollar amid rising geopolitical tensions.
BRICS includes Brazil, Russia, India, China, and South Africa, as well as newer members such as the UAE, Iran, and Indonesia. Any effort to implement digital settlements among these countries will likely attract attention from Washington. US President Donald Trump has previously called BRICS “anti-American” and threatened to impose tariffs on member states.
Boost collaboration between payment systems
The RBI, the Indian government, and several BRICS central banks either chose not to comment or said that they had no information to share.
The proposal builds on a 2025 statement from the BRICS summit in Rio de Janeiro. That declaration encouraged collaboration between members’ payment systems to increase efficiency in cross-border transactions.
While none of the BRICS Digital Currencies countries have fully launched their CBDCs yet, all five main economies are conducting pilots. India’s e-rupee has gained about seven million retail users since it was introduced in December 2022. The RBI has also made offline payments possible, introduced programmability for government subsidies, and integrated fintech wallets to encourage adoption.
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