1 month ago
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Key Takeaways
- BRICS wants cheaper cross-border settlement.
- Fast-payment rails may matter as much as CBDCs.
- Members are entering from very different starting points.
- Trade imbalances remain a harder problem to solve.
BRICS Is Looking for a Cheaper Way to Move Money
Reserve Bank of India Governor Sanjay Malhotra said on August 11 that BRICS members are discussing potential connections between their fast-payment systems and central bank digital currencies.
The talks remain at an early stage, with no agreed architecture or launch timetable. India is hosting the 2026 BRICS summit, and the RBI had already recommended earlier this year that
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