BRICS laying first tracks for new global payment system
A BRICS currency to facilitate de-dollarization remains a distant dream, but a digital currency alternative to SWIFT is nearly here
As India prepares to host the BRICS summit later this year, the focus will be on a payment system linking national digital currencies. By prioritizing this infrastructure over launching a new currency, the bloc makes a pragmatic bet that practical systems will reshape global finance more than symbolic gestures.
At the summit, a crucial agenda item signals a potential shift: developing a BRICS payment system built on interoperable central bank digital currencies (CBDCs).
This infrastructure-focused initiative has drawn less attention, as it avoids the drama of calls for a ‘BRICS currency’ or overt de-dollarization. However, its avoidance of headline-grabbing moves may make it more consequential, underscoring the main argument: practical infrastructure changes can reshape finance more than symbolic challenges.
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Source: https://asiatimes.com/2026/01/brics-laying-first-tracks-for-new-global-payment-system/?fbclid=IwY2xjawPtyrRleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEeHIVwr_Wh3aAsjKa5XQ_m44qDYqc0CG5BnbwDNsTK-1tinA8X3rngohg7OIQ_aem_5NlgZrRZj-eSjJLO8SJViw