TLDR
- RBI has proposed linking BRICS nations’ CBDCs for trade and tourism transactions.
- The plan may be discussed at the 2026 BRICS summit hosted by India.
- The proposal focuses on reducing cost and friction in cross-border payments.
- Discussions depend on technology, governance, and settlement systems.
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The Reserve Bank of India (RBI) has proposed a plan to link central bank digital currencies (CBDCs) of BRICS nations—Brazil, Russia, India, China, and South Africa. According to a Reuters report, the initiative aims to simplify and reduce the cost of cross-border payments in trade and tourism.
🚨Breaking: India’s central bank is pushing to link BRICS digital currencies to power seamless cross-border trade & tourism.
A bold move that could reshape global payments. 🌍💱 pic.twitter.com/fxns4TRiMB
— Victus Global (@Victusglobal) January 19, 2026
This recommendation may be added to the agenda of the 2026 BRICS summit, which will be hosted by India. Sources familiar with the matter told Reuters that the discussions are at an early stage. The final plan will depend on mutual agreements over technology, governance structures, and settlement mechanisms.
Early-Stage Discussions Focus on Payment Efficiency
The proposed initiative seeks to make cross-border payments more efficient by using digital currencies issued by BRICS central banks. Officials have stated that this plan is intended to improve efficiency and not to replace existing currencies or challenge the global dominance of the US dollar.
“The focus is not to compete with the dollar, but to enhance settlement efficiency and reduce transaction costs,” a source told Reuters. The plan, if agreed upon, could be the first formal discussion of CBDC use across BRICS nations.
RBI’s e-Rupee Push Aligns with BRICS Strategy
The RBI has already launched its digital currency, the e-rupee, which has seen widespread usage within India. The central bank has also expressed interest in integrating the e-rupee with other CBDCs for faster settlement and increased interoperability.
The proposed BRICS initiative fits into India’s broader aim of connecting its digital currency to global financial systems. By linking with other BRICS nations, India hopes to create a more seamless platform for cross-border transactions in trade and tourism.
Previous BRICS Summits Have Explored Payment Cooperation
The 2025 BRICS summit in Brazil included early talks about increasing payment interoperability between member states. While there has been no formal agreement on a shared digital system yet, member nations have shown growing interest in smoother financial coordination.
Although there has been speculation about the creation of a shared BRICS currency, member states have denied these claims. In January 2025, Russian officials stated that BRICS was not seeking to create an alternative to the US dollar. Brazil’s central bank also downplayed speculation about a potential rival currency during a public statement in May 2025.
No Plans for a Common Currency, Say Officials
Officials across BRICS nations have clarified that they are not working toward a joint digital or physical currency. Instead, the effort is focused on enabling current digital currencies to operate smoothly with one another through shared standards and technology.
Kremlin spokesperson Dmitry Peskov told reporters that BRICS cooperation is aimed at strengthening investment ties and improving economic coordination. Similar statements were made by Brazilian authorities, who stated that their efforts are not targeting any specific currency dominance.