BRICS payment systems UPI, Pix pursue cross-border central bank links

Government-backed payment networks in BRICS countries, including India's UPI and Brazil's Pix, are exploring interconnections with central banks abroad to facilitate cross-border transactions. This initiative aims to reduce reliance on Western-dominated financial infrastructure, though technical and regulatory hurdles remain. The move signals a strategic push for financial de-dollarization and enhanced economic integration among emerging economies.