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India's Reserve Bank promotes BRICS CBDC interconnection; 2026 summit may attempt cross-border settlement "de-dollarization"
Breaking News from Mars Finance: The Reserve Bank of India (RBI) is pushing forward with a plan to connect the central bank digital currencies (CBDC) among BRICS countries, aiming to simplify cross-border trade and tourism while reducing the dominance of the US dollar. Sources say that the Reserve Bank of India has urged for the proposal to establish a CBDC interconnection system to be included in the agenda of the BRICS summit hosted by India in 2026. This will be the first official attempt by BRICS members—Brazil, Russia, India, South Africa, and new members including the UAE, Iran, and Indonesia—to establish a CBDC linkage.