BRICS Nations Explore CBDC Payment Systems to Reduce Dollar Dependence

BRICS countries, with India at the forefront, are working on central bank digital currency (CBDC)-based payment settlement systems to lessen their dependence on dollar-dominated infrastructures such as SWIFT. According to NS3.AI, the Reserve Bank of India is advocating for the inclusion of cross-border CBDC corridors in the agenda for the 2026 BRICS summit to enhance efficiency and resilience. This blockchain-based framework focuses on maintaining sovereign control, avoiding a common currency, incorporating capital controls, and creating interoperable yet secure payment networks.