SCO Summit in Astana Advances Common Digital Payment System
February 17, 2026 at 06:37 PM1,102 views
SCO Financial Integration
The Shanghai Cooperation Organisation summit in Astana has produced a landmark agreement to develop a common digital payment infrastructure connecting member states.
System Architecture
- Central clearing hub based on distributed ledger technology
- Real-time settlement in national currencies (no USD intermediary)
- Integration with existing systems: Russia's SPFS, China's CIPS, India's UPI
- Pilot launch: Q1 2027 with Russia, China, India, and Kazakhstan
Trade Impact
Intra-SCO trade reached $820 billion in 2025, with 62% already settled in national currencies. The new system aims to increase this to 85% by 2028.
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