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      Russia and India Develop Digital Currency Mechanism for Trade Payments

      Russia and India are collaborating to establish a mechanism for using digital currencies in bilateral trade payments, as confirmed by Herman Gref, CEO of Sberbank, a major Russian bank. This initiative aims to facilitate faster cross-border settlements and decrease dependence on the SWIFT payment system.

      The move comes as members of the BRICS group, which includes Brazil, Russia, India, China, and South Africa, seek to enhance integration of their payment systems. Both countries have set an ambitious target to increase bilateral trade to $100 billion by the year 2030.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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