The BRICS de-dollarization agenda for 2026 is moving fast, and actually, it’s transitioning from planning into real implementation right now as India takes over the bloc’s presidency. Here’s what’s interesting—the BRICS de-dollarization agenda for 2026 has catalyzed various major financial system developments. Major initiatives encompass the BRICS Pay expansion in 2026, the BRICS Unit launch in 2026 (a gold-backed settlement tool), BRICS CBDC interoperability frameworks, and BRICS NDB local currency loans.
Also Read: BRICS 2025 Summary: De-Dollarization Push and Gold Reserves Surge
BRICS De-Dollarization Agenda 2026: Unit Launch, CBDCs, Pay Expansion, Loans
India Takes Presidency Role
India officially assumed the BRICS presidency from Brazil, and such an appointment represents a significant shift. The country will host the 18th BRICS Summit in New Delhi—probably around August or September. Through several key strategic initiatives, the presidency has spearheaded various major financial alternative developments at the center of the BRICS de-dollarization agenda for 2026.
India’s External Affairs Minister S. Jaishankar was clear about the fact that:
“I don’t think there’s any policy on our part to replace the dollar. The dollar as the reserve currency is the source of global economic stability, and right now what we want in the world is more economic stability, not less.”
As it turns out, analysts are viewing the BRICS de-dollarization agenda for 2026 as what they’re calling a “De-dollarization 2.0” phase.
Payment Systems and Digital Currencies
The BRICS Pay expansion in 2026 represents something pretty significant, and such a development is transforming payment networks. It’s a decentralized system that links national payment networks. And here’s the thing—the BRICS Pay expansion in 2026 has already reduced USD usage in intra-bloc trade by roughly two-thirds. The system has engineered connections such as Russia’s SPFS, China’s CIPS, and India’s UPI.
BRICS CBDC interoperability, in turn, is one of the priorities of the BRICS de-dollarization plan in 2026. Such structures are under active development. As a matter of fact, Russia, China, and India are collaborating to interlink their digital ruble, yuan, and rupee. The interesting fact is BRICS CBDC interoperability has hastened different significant settlement options to SWIFT.
BRICS Unit is launched in 2026 after what occurred on October 31, 2025, a pilot program was launched 100 Units supported by 40% of gold and 60% BRICS currencies. In various key reserve levels, the BRICS Unit start in 2026 has exploited the collective gold reserves of the member states of more than 6,000 tonnes. It is noteworthy that the introduction of the BRICS Unit in 2026 has already put in place cross border trade mechanisms that are not intermediated by the dollar.
Russian President Vladimir Putin stated:
“We are not refusing, not fighting the dollar, but if they don’t let us work with it, what can we do? We then have to look for other alternatives, which is happening.”
Local Currency Financing
BRICS NDB local currency loans constitute a significant component of BRICS de-dollarization plan in 2026. These loans grow at a fast pace. It is factual that the New Development Bank has been leading in a third of all its loans in domestic currencies. The BRICS NDB local currency loans promote infrastructure development in different major areas of development. And the figures are high–the bank discharged $30 billion in 2024. BRICS NDB local currency lending has changed dollar-based debt and minimized this reliance.
Also Read: BRICS Use Gold to Challenge Dollar Hegemony and Redefine Power