RBI wants BRICS countries to link digital currencies by 2026
The Reserve Bank of India is pushing for BRICS nations—think Russia, China, and India—to connect their digital currencies to make cross-border payments and travel way smoother.
This big idea is set for discussion at the 2026 BRICS summit in New Delhi and builds on ongoing efforts to get these countries' payment systems talking to each other.
Why does it matter?
If this goes through, paying across borders in BRICS countries could get a lot simpler—no more juggling different banking systems or relying on the US dollar as much.
It's also part of a bigger move by BRICS to rely less on the dollar, with new projects like a partly gold-backed "BRICS Unit" currency and their own version of SWIFT called "BRICS Pay."
Still, there are hurdles: getting everyone on the same tech standards and keeping things secure won't be easy.
But if they pull it off, it could change how money moves between some of the world's biggest economies.