What question did this study set out to answer?

The aim is to explore the establishment of a BRICS central bank digital currency to enhance trade among members.

August 1, 2026Open Access

Should BRICS members adopt a wholesale digital payment system?

View Full Paper

Ask AI

Bookmark

Authors

Article examines digital payment proposals for BRICS members, suggesting reform is needed for effective trade flows.

The aim is to explore the establishment of a BRICS central bank digital currency to enhance trade among members.
Analysis of proposals for a unified BRICS cross-border payment system.
Contextual examination of global CBDC efforts and BRICS geo-political challenges.
Focus on a Brazilian initiative as a foundational step towards a BRICS CBDC.
A unified digital currency could help small BRICS nations improve payment efficiencies and reduce trade deficits.
However, this initiative does not significantly alter the larger trade dynamics with China.
Completing the convergence requires greater monetary and policy coordination than currently proposed.

Srouji et al. (2026) studied this question.

View Full Paper

Ask AI

Bookmark