The Reserve Bank of India (RBI) has presented a strategic proposal to link the central bank digital currencies of the BRICS with the primary objective of facilitating cross-border payments. According to a recent Reuters report citing anonymous sources familiar with the matter, this initiative seeks to significantly simplify trade and tourism among the bloc’s member nations.
The recommendation from the Indian financial institution aims to place CBDC interoperability on the official agenda for the upcoming BRICS summit in 2026, an event that will be hosted by India. If this proposal achieves the necessary consensus, it would be the first formal consideration of these digital currencies within the geopolitical bloc that integrates Brazil, Russia, India, China, and South Africa. However, sources indicated that the discussions are at a preliminary stage. The success of the initiative will depend largely on reaching complex agreements on technology, governance, and settlement protocols among the participating countries.
On the other hand, this proposal does not arise in a vacuum but builds on the foundations laid during the 2025 Brazil summit, where improving the interoperability of payment systems had already been discussed. For New Delhi, this strategic movement aligns perfectly with its broader effort to integrate its own digital currency, the digital rupee, into international transaction flows. The RBI has previously expressed its public interest in linking the e-rupee with other existing CBDCs to expedite cross-border settlement processes.
Does this movement represent a definitive step towards an alternative financial infrastructure independent of traditional systems?
Likewise, although India’s official focus is primarily centered on operational efficiency and technological adoption rather than explicit de-dollarization, the measure reflects growing interest. The effective connection of these sovereign digital platforms could significantly reduce friction and costs associated with traditional international payments within the economic group. This would mark a substantial advance in the evolution and real utility of sovereign digital assets, without the political need to create a unified single currency.
Finally, it is crucial to highlight that officials from BRICS member states have repeatedly denied that the bloc seeks to replace the US dollar as the global reserve currency. Both spokespersons from Russia and Brazil have recently emphasized that cooperation within BRICS focuses on mutual investment and economic coordination, minimizing speculations about a direct and coordinated challenge to the current monetary hegemony of the dollar.
