India explores digital-rupee links with Thailand, Malaysia and Vietnam
RBI is discussing CBDC connections with Thailand, Malaysia and Vietnam to enable faster, lower-cost cross-border payments. The digital rupee remains in pilot stage, with retail and wholesale use cases still being assessed.
What happened
Reserve Bank of India · India is exploring links between its RBI-developed digital rupee and CBDCs in Thailand, Malaysia and Vietnam to enable faster,
Key facts
- Two to three countries
- 18th BRICS Summit
- 12 September
What changed
India is exploring links between its RBI-developed digital rupee and CBDCs in Thailand, Malaysia and Vietnam to enable faster, lower-cost cross-border payments. The e-Rupee remains in pilot phase, with RBI assessing new retail and wholesale use cases.
Why this matters
Indian retailers serving outbound travellers and cross-border shoppers should monitor digital-rupee interoperability as a potential route to faster, lower-cost payment acceptance and settlement in Thailand, Malaysia and Vietnam.
What to watch
- Formal RBI memorandum or pilot announcement with the Bank of Thailand, Bank Negara Malaysia or State Bank of Vietnam.
- Confirmation that retail users, rather than only banks and wholesale institutions, can access the corridor.
- Interoperability with UPI, PromptPay, DuitNow, VietQR or existing regional payment-linkage infrastructure.
- Published rules on FX conversion, transaction caps, AML/KYC, dispute handling and merchant refunds.
- Named participating banks, wallet providers, acquirers, travel platforms or merchant groups.