Crypto: India’s Central Bank Proposes Linking Brics Digital Currencies For...

India wants BRICS members to discuss linking their CBDCs for trade and tourism at a future summit, according to a Reuters report.

India’s central bank, the Reserve Bank of India (RBI), has reportedly proposed an initiative linking BRICS central bank digital currencies (CBDCs) to facilitate cross-border trade and tourism payments.

A Reuters report citing two anonymous sources claimed that the recommendation would place the idea of CBDC interoperability on the agenda for the 2026 BRICS summit, which India is scheduled to host.

Reuters reported that the proposal, if accepted by the Indian government and BRICS partners, would be the first formal consideration of CBDCs within the bloc, which includes Brazil, Russia, India, China and South Africa.

While the proposal aims to reduce friction and cost in cross-border payments, the sources told Reuters that the discussions are at an early stage and would depend on agreements on technology, governance and settlement arrangements.

Linking CBDCs among BRICS nations would mark a substantial step in the evolution of sovereign digital assets, even if it stops short of creating a unified currency.

The 2025 BRICS summit in Brazil set the stage for enhanced payment interoperability, reflecting the members' interest in streamlining settlement systems for trade and tourism.

For India, the proposal aligns with its broader push to integrate its digital currency, the e-rupee, into international transaction flows.

The e-rupee has attracted millions of users since launch, and the RBI publicly signaled interest in linking the e-rupee with other CBDCs to expedite settlement.

While the RBI stressed that its efforts are primarily focused on efficiency and adoption rather than explicit de-dollarization, the move reflects growing interest among emerging economies in settlement efficiency.

Source: CoinTelegraph