Russia and India Explore CBDC-Based Trade Payments

Russia and India are advancing plans to use central bank digital currencies (CBDCs) for bilateral trade payments, according to Bloomberg's Walter Bloomberg. The move is expected to increase the speed of cross-border transactions while reducing dependence on the SWIFT international financial messaging network. The initiative aligns with broader BRICS member states' efforts to strengthen payment system connectivity. Russia and India aim to expand economic cooperation to grow bilateral trade volume to $100 billion by 2030.