BRICS nations discuss linking fast payment systems and CBDCs, RBI governor says

BRICS / cross-border payments

Direct answer: BRICS members are discussing possible links between their national fast payment systems and central bank digital currencies, but the options remain at the discussion stage.

Key facts

• Reserve Bank of India Governor Sanjay Malhotra disclosed the discussions at an event in Mumbai on August 11, 2026.
• He said cross-border payments are an area of shared interest because there is substantial scope to reduce costs.
• The options under discussion include both links between fast payment systems and connections between central bank digital currencies (CBDCs).
• India is hosting the 2026 BRICS summit. Earlier in 2026, the RBI recommended putting CBDC connectivity on the summit agenda.
• The RBI also plans to continue internationalising the rupee and promoting local currencies in cross-border payments and trade.

Why it matters for BRICS+

For exporters, importers and logistics operators, payment interoperability could reduce friction in settlement, improve transaction speed and make smaller cross-border deals more economical.

The announcement is not the launch of a common BRICS currency or a finished payment network. It is an early-stage discussion about connecting existing national infrastructure while preserving separate currencies and central-bank control.

What to watch next

Watch for a formal interoperability roadmap at the 2026 summit, pilot payment corridors, and agreements on technology standards, cybersecurity, foreign-exchange conversion, AML controls and governance.

Editorial illustration: New Silk Road BRICS+. Source: Reuters. Illustration source: New Silk Road BRICS+.