BRICS create payment system inspired by PIX to carry out transactions without using dollars
The BRICS bloc is advancing in the implementation of a cross-border payments infrastructure that uses the Brazilian PIX technological model as the main reference. The initiative focuses on the settlement of commercial operations through digital currencies issued by central banks, known by the acronym CBDCs. The central objective of the proposal is to enable direct trade between member nations without the need for conversion to the US dollar or the use of financial intermediaries based at Ocidente. Índia, which will assume the presidency of the group’s 18th Cúpula in 2026, established the project as a priority agenda for this year’s economic calendar.
The strategy seeks to resolve logistical and financial bottlenecks that currently hinder the expansion of exchanges in local currencies. Embora China and Índia already carry out 80% of mutual trade without using the North American currency, the liquidity of currencies such as the rupee and the real still has limitations compared to the yuan. The new system aims to interconnect sovereign digital architectures so that conversion occurs automatically and instantly. Atualmente, most international settlements rely on the SWIFT system. Esta network is monitored by Western powers and has been used as an economic sanctions mechanism in recent geopolitical conflicts.
Brazilian Tecnologia serves as a basis for international transactions
Reserve Bank of India, the Indian monetary authority, introduced the joint payment mechanism highlighting the operational agility seen in Brasil. The proposal foresees that the central banks of the member countries act as the final settlers of the operations directly. The use of national digital currencies allows a payment made in reais by a Brazilian importer to reach the Indian exporter converted into digital rupees in almost real time. Esta architecture eliminates layers of international bank correspondence that often make transfers more expensive and delay.
The viability of the project gains strength with the significant increase in the use of local currencies among the largest emerging economies in the world. In the last two years, the volume of commercial transactions within the bloc carried out outside the dollar sphere jumped to 65% of the total. Current technological development focuses on so-called interoperability, ensuring that different CBDC systems are able to “talk” to each other without security breaches or data loss.
- Conexão direct between central banks for instant settlement.
- Uso exclusive of sovereign digital currencies (CBDCs).
- Conversão automatic between local currencies at the time of payment.
- Independência total of European or American financial messaging networks.
- Redução of operating costs for importing and exporting companies.
Índia assumes leadership of the project at the 2026 summit
The Declaração of leaders signed at the previous summit classified the system as a strategic priority for the economic sovereignty of members. The Indian government is now accelerating technical discussions between finance ministers to present a working prototype by the end of the semester. The intention is for the mechanism to function as a robust alternative for countries seeking to protect their international reserves from sudden fluctuations in foreign exchange.
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The scenario of global financial fragmentation drives the search for these new payment rails. Analistas note that China already has an advanced infrastructure with the digital yuan, which facilitates integration with important trading partners. The entry of new members into the bloc also increases the need for a platform that supports multiple currencies with legal and technological security.
Desafios liquidity and integration between central banks
Apesar of technical advancement, coordination between each country’s monetary policies remains a point of attention for the technicians involved. Cada nation has different paces of implementation of its digital currencies, with Brasil and China being those with more mature stages of development. The BRICS Força-Pagamentos Task is now working on standardizing compliance standards to prevent financial crimes in the new network.
The transition to a digital model requires heavy investments in cybersecurity and high-availability server infrastructure. The block aims to ensure that the system is resilient to cyber attacks and capable of processing massive volumes of data simultaneously. The success of the initiative could significantly change the flow of global capital in the coming decades, consolidating a financial hub independent of traditional Bretton Woods institutions.
