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Brazil And India Study Possible Pix–UPI Integration To Create Instant Payment Network Without Dollar, Accelerating Transactions And Strengthening BRICS Agenda.
The advancement of local currencies as an alternative to the dollar in international trade has just gained another strategic chapter. Brazil and India, two of the largest emerging economies and members of BRICS, are discussing the possibility of interconnecting their national instant payment systems — Pix in Brazil and the Unified Payments Interface (UPI) in India — to allow direct transactions between the two countries without currency conversion to the US dollar.
If implemented, the measure could reduce costs, expedite operations, and symbolize a concrete step in the de-dollarization agenda that has been a central theme in international forums. The information was reported by the portal coingeek on August 12.
Pix And UPI: Digital Payment Giants Could Join Forces Soon
Created in 2020 by the Central Bank, Pix revolutionized the way Brazilians transfer money, with over 160 million users and billions of transactions per month.
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Meanwhile, UPI, launched in India in 2016, is considered one of the most advanced instant payment systems in the world, handling daily volumes that surpass the GDP of many countries. Both are free for end-users and allow transfers in seconds, 24 hours a day.
The idea under consideration is to allow a user in Brazil to send amounts in reais to India, where the recipient would receive automatically in Indian rupees, and vice versa, using predefined or negotiated exchange rates on joint platforms. This process would eliminate the need for dollar conversion, which is currently an intermediary in most international operations, shortening the path and reducing banking fees.
Official-Level Discussions On The Integration Between PIX And UPI
The topic was discussed during recent meetings between financial authorities from both countries and gained prominence in multilateral BRICS meetings, which are already addressing ways to increase the use of national currencies in trade flows.
Although there is not yet a fixed timeline for implementation, diplomatic sources confirm that the project has political and technical support to move forward.
The Pix–UPI integration could be initially launched on a pilot basis, aimed at small and medium-sized transactions, such as family remittances, service payments, and online purchases.
In a second phase, it could serve exporting and importing companies, allowing for faster and cheaper settlements.
Impact On Brazil–India Trade
Bilateral trade between the two countries has grown in recent years, reaching about US$ 15 billion annually, according to official data. India imports crude oil, soybean oil, and sugar from Brazil while exporting pharmaceuticals, fertilizers, and industrial goods to Brazil.
With an integrated payment system, these flows could gain more agility and predictability, attracting new companies to the Brazil–India route.
Experts in international finance believe that the adoption of instant cross-border payments in local currencies not only reduces costs but also mitigates currency exposure and increases the financial autonomy of the countries involved.
However, they emphasize the need to create robust mechanisms for security, compliance, and anti-money laundering to ensure the system’s reliability.
The Role Of BRICS And The Competition With The Dollar
The proposal is part of a broader context of BRICS efforts to diversify payment means and reduce dependence on the dollar. Since 2023, the bloc has been discussing alternatives such as central bank digital currencies, proprietary settlement platforms, and currency swap agreements. The Pix–UPI integration, although bilateral, would serve as a proof of concept for similar initiatives among other members.
For the United States, which sees the dollar as a pillar of its economic influence, moves like this represent a strategic challenge. Although they do not threaten the American currency in the short term, they may signal the formation of parallel networks for commercial settlement.
Technical And Political Challenges
The technological compatibility between Pix and UPI is not an insurmountable problem — both are modern, scalable systems with open APIs for integration.
The bigger challenge will be to harmonize regulations and define a transparent and stable exchange model that avoids distortions or arbitrage. Another sensitive point is governance: deciding who will be responsible for the operation, security, and auditing of the joint system.
Even though the initial impact may be modest, the Pix–UPI integration would carry significant symbolic weight. It would show that it is possible to implement practical solutions for de-dollarization without waiting for a global consensus or structural changes in the international financial system. It would also demonstrate how technology and economic diplomacy can work together to strengthen the autonomy of emerging countries.
Fortalece as duas moedas e contribui no aumento do volume comercial. Além da previsibilidade e estabilidade de preços que ajuda a controlar a inflação.
Kkkkk……importantísimo para China ganhar Mais dinheiro encima de brasileiro ****……comprar as **** da China…….e comprar o que da India Curry????…….e da Russia vodka e armas???????……..faca me o favor….
Tem gente que desfila sua ignorância com desenvoltura pela internet.
O Leonardo, vai relinchar seu **** dominado pelo presidente mais honesto deste país
O Brasil precisa urgente de armas e uma bomba atomica, esse pessoal da esquerda esta colocando o Brasil desarmado de 4 para ser torado, assim que as potencias desejar nossos recursos naturais.
Já vão lançar o BRICS PAY… Que envolve todos os apps de pagamento online dos países do BRICS…