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September 11, 2026 11:21 am
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Russia and India are moving to use central bank digital currencies for trade settlements between the two countries, Walter Bloomberg reported. CBDC-based payments could speed up cross-border settlement while reducing reliance on SWIFT, the existing international financial messaging network. The move also aligns with broader efforts by BRICS members to strengthen links between their payment systems. Russia and India aim to expand economic cooperation and increase bilateral trade to $100 billion by 2030.