The BRICS de-dollarization agenda for 2026 is progressing rapidly and, in fact, is moving from planning to actual implementation now that India has assumed the bloc’s chairmanship. Interestingly, the BRICS de-dollarization agenda for 2026 has facilitated the development of various major financial systems. Key initiatives include BRICS Pay expansion in 2026, BRICS Unit launch (gold-backed payment tool) in 2026, BRICS CBDC interoperability framework, and BRICS NDB local currency loans.
BRICS De-Dollarization Agenda 2026: Division launch, CBDC, salary expansion, financing
India takes on the role of chairperson
Such an appointment marks a major change as India officially takes over the BRICS chairmanship from Brazil. The country is scheduled to host the 18th BRICS summit in New Delhi, likely around August or September. Through several key strategic initiatives, the President has spearheaded the development of various major financial alternatives as the centerpiece of the BRICS De-Dollarization Agenda towards 2026.
India’s External Affairs Minister S. Jaishankar has clearly stated the following facts:
“I don’t think there is a policy on our side to replace the dollar. The dollar as a reserve currency is a source of global economic stability, and what we want in the world right now is more economic stability, not less economic stability.”
After all, analysts see the BRICS’ 2026 de-dollarization agenda as what they call the “de-dollarization 2.0” stage.
Payment systems and digital currencies
The expansion of BRICS Pay in 2026 represents something of great significance, as such developments are transforming payment networks. It is a decentralized system that links national payment networks. And the problem is that the expansion of BRICS Pay in 2026 has already reduced the use of US dollars in intra-regional trade by about two-thirds. The system designed connections such as Russia’s SPFS, China’s CIPS, and India’s UPI.
BRICS CBDC interoperability is one of the priorities of the BRICS De-Dollarization Plan in 2026. Such structures are currently under active development. In fact, Russia, China, and India are working together to interlink the digital ruble, renminbi, and rupee. An interesting fact is that the interoperability of the BRICS CBDC has facilitated various important payment options to SWIFT.
The BRICS unit will be launched in 2026 after what happened on October 31, 2025, with a pilot program of 100 units supported by 40% gold and 60% BRICS currency. At various major reserve levels, the BRICS unit, starting in 2026, has developed a total of more than 6,000 tonnes of gold reserves in its member countries. It is worth noting that with the introduction of the BRICS unit in 2026, a non-dollar cross-border trade mechanism is already in place.
Russian President Vladimir Putin said:
“We are not rejecting the dollar, we are not fighting the dollar, but what can we do if they do not allow us to cooperate with the dollar? In that case, we will have to look for other alternatives, and that is what is happening.”
Local currency loan
BRICS NDB local currency financing forms a key element of the 2026 BRICS De-Dollarization Plan. These loans are growing at a fast pace. It is true that New Development Banks lead the way with one-third of all domestic currency-denominated loans. BRICS NDB local currency financing facilitates infrastructure development in various key development areas. And the numbers are high: the bank repaid $30 billion in 2024. BRICS NDB’s local currency financing modified dollar-based debt and minimized this dependence.
