Reserve Bank of India promotes BRICS CBDC interoperability; 2026 summit may attempt cross-border settlement "de-dollarization"

GateNews

2026-01-19 11:42:53

Odaily Planet Daily reports that the Reserve Bank of India (RBI) is pushing forward with a plan to connect the central bank digital currencies (CBDC) among BRICS countries, aiming to streamline cross-border trade and tourism while reducing the dominance of the US dollar. Sources say that the Reserve Bank of India has urged the inclusion of a proposal to establish a CBDC interconnection system on the agenda of the BRICS summit hosted by India in 2026. This will be the first formal attempt by BRICS members to establish a CBDC link, including new members such as Brazil, Russia, India, South Africa, as well as the United Arab Emirates, Iran, and Indonesia. (Coindesk)

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