BRICS countries may create common digital currency

Source: УНИАН | Original Published At: 2026-01-26 12:56:00 UTC

Key Points

• India's Reserve Bank proposes integrating national CBDCs for cross-border payments, to be discussed at 2026 BRICS summit
• Focus on creating Brics Pay payment infrastructure rather than a single currency, enabling trade in national currencies without SWIFT/dollar intermediaries
• Technical challenges include system compatibility and regulatory frameworks for data access and trade imbalance resolution
• Strategic motivations include reducing vulnerability to sanctions and countering US financial influence
• New members like Saudi Arabia and Iran increase strategic importance of non-dollar commodity trade mechanisms