{
  "id": 1091756,
  "title": "BRICS weighs linking instant payments, digital currencies across member states",
  "url": "https://urgent.news/2026/08/15/brics-weighs-linking-instant-payments-digital-currencies-across",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-15T17:47:13.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/08/15/brics-weighs-linking-instant-payments-digital-currencies-across-member-states/"
  },
  "original_language": "en",
  "account": "The BRICS nations are mulling the idea of linking their individual instant payment systems and central bank digital currencies to streamline cross-border transactions among member states. Reserve Bank of India Governor Sanjay Malhotra disclosed these talks to Brazilian media, as reported by TV BRICS. Malhotra explained that merging independent national financial systems into a unified payments infrastructure could significantly reduce cross-border payment costs, which are a shared concern among BRICS members. He emphasized the group's potential to achieve substantial savings through enhanced financial connectivity, though specifics of any possible shared infrastructure or its timeline remain under discussion. BRICS, which now includes Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Ethiopia, Indonesia, Iran, and Nigeria, has each nation operating separate financial systems and national currencies. The technical and regulatory coordination needed for such integration is a considerable challenge. Nigeria joined BRICS as a partner country in January 2025, following Brazil's announcement of its admission during the bloc's presidency. The significance of Nigeria's inclusion may lie in future opportunities for its financial system to benefit from expanded payment connectivity as other BRICS partners are integrated. This development follows Nigeria's reaffirmation of its support for BRICS' agenda in advancing financial cooperation among emerging economies in April 2025.",
  "summary": "The BRICS countries are in discussions about integrating their national instant payment systems and central bank digital currencies as a way to reduce the cost and improve the efficiency of cross-border transactions among the group's member nations. The post BRICS weighs linking instant payments, digital currencies across member states appeared first on Nairametrics .",
  "key_points": [
    "BRICS nations discuss linking instant payment systems and digital currencies.",
    "RBI Governor Sanjay Malhotra highlights potential cost reduction in cross-border payments.",
    "Nigeria's inclusion in BRICS could benefit from expanded payment connectivity."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}