BRICS Weigh Linking Payment Rails and CBDCs Before 2026 India Summit
Updated
Updated · Business Insider Africa · Aug 13
BRICS Weigh Linking Payment Rails and CBDCs Before 2026 India Summit
3 articles · Updated · Business Insider Africa · Aug 13
Summary
BRICS members are discussing links between their fast payment systems and central bank digital currencies as part of preparations for the 2026 summit in India.
Sanjay Malhotra, governor of India’s central bank, said the project remains at the discussion stage but could cut cross-border payment costs and make international transactions more efficient.
The Reserve Bank of India has already urged New Delhi to put CBDC connectivity on the summit agenda, while also pushing wider use of the rupee and other local currencies in trade.
Malhotra said central banks want digital integration without weakening financial security, as lenders expand AI use under tighter governance to manage cyber and operational risks.