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India’s RBI Proposes BRICS Digital Currency Network to Bypass Dollar Dominance

India’s RBI Proposes BRICS Digital Currency Network to Bypass Dollar Dominance

Author:

Global Cryptocurrency

Published:

2026-01-20 08:33:02

19

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BTCCSquare news:

India’s central bank has unveiled a plan to integrate digital currencies across BRICS nations, aiming to streamline cross-border payments ahead of the 2026 summit. The proposal targets frictionless trade settlements and remittances while reducing reliance on dollar-clearing systems.

The initiative emerges as geopolitical tensions escalate, with U.S. tariff threats against BRICS members. A functional CBDC network could insulate emerging economies from Western financial sanctions and SWIFT disruptions.

Brazil, Russia and China have advanced CBDC pilots, while South Africa tests wholesale applications. India’s digital rupee trials now exceed 1 million daily transactions, creating infrastructure for potential interoperability.

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