India's central bank has proposed linking BRICS member countries' central bank digital currencies (CBDCs) to support payments for trade and tourism, Cointelegraph reported on Jan. 19, citing Reuters.
People familiar with the matter, who requested anonymity, said the proposal is likely to be placed on the formal agenda at the BRICS summit to be held in India in 2026.
If the proposal is approved by the Indian government and BRICS partners, it would be the first case in which the five countries — Brazil, Russia, India, China and South Africa — formally discuss CBDC cooperation, Cointelegraph reported. It added that talks are at an early stage and require agreement on details such as technology, governance and payment methods.
Linking CBDCs among BRICS countries is seen as an important milestone for the development of sovereign digital assets, even if it does not amount to adopting a single currency. Interoperability of payment systems was also discussed at the BRICS summit held in Brazil in 2025, and India has shown moves to integrate the digital rupee, or e-rupee, into global transaction systems.
Chi-gyu Hwang
delight@d-today.co.kr