BRICS Laying First Tracks for New Global Payment System

BRICS laying first tracks for new global payment system

As 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 […] The post BRICS laying first tracks for new global payment system appeared first on Asia Times.

BRICS Payment Settlement: The Quest and Implications

The most plausible pathway for future cross-border CBDC settlement lies in the ‘blockchain-based architecture’ conceptually like the BIS Innovation Hub’s mBridge initiative.