BRICS Nations Consider Linking Digital Currencies to Reduce Dollar Reliance

Source: ZeroHedge | Original Published At: 2026-01-19 14:07:00 UTC

Key Points

• India's RBI proposed linking BRICS central bank digital currencies (CBDCs) to facilitate trade and tourism payments, aiming to reduce reliance on the U.S. dollar.
• The initiative would require interoperable infrastructure and governance standards among Brazil, Russia, India, China, and South Africa.
• U.S. opposition expressed through warnings against bypassing the dollar and Trump's characterization of BRICS as 'anti-American'.
• Builds on 2025 BRICS declaration promoting payment system interoperability, though implementation faces technical and regulatory challenges.
• All five core BRICS members are conducting CBDC pilot programs but none have fully launched retail digital currencies yet.