World
Brics discusses integration of payment systems and digital currencies
Brics members are negotiating to integrate their payment systems and explore digital currencies, as announced by India's central bank.
The member countries of Brics are discussing the integration of their payment systems and the implementation of central bank digital currencies (CBDCs). The announcement was made by Sanjay Malhotra, the President of the Reserve Bank of India, during an event held on Tuesday (11).
According to Malhotra, the discussion included the proposal to connect digital currencies, known as CBDCs, among the countries in the group. This topic has been recommended for inclusion in the agenda of the Brics summit scheduled for 2026.
The meetings aim to explore possible integrations between each country's rapid payment systems, which could facilitate financial transactions among Brics members. Specific details on how this integration could be achieved have not been disclosed.
These initiatives reflect a growing interest in financial solutions that could modernize and simplify payment systems among the nations that make up the bloc. The focus on digital currencies also highlights the global trend towards financial digitalization.