BRICS laying first tracks for new global payment systemAs 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).