India and Brazil to collaborate on digital payment systems
India and Brazil will collaborate on their digital payment systems, according to a report by The India Times.
The collaboration emerged from a meeting between Indian Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva held over the phone last week. The call was set amid growing antagonism from the United States toward its trade partners. Both India and Brazil are targeted by the highest of Trump's tariffs.
No further specifics are available at the time of writing, but any collaboration could end up representing a gargantuan number of digital payment transactions. Both countries have launched their instant payment systems and enjoyed significant uptake. India's system, dubbed Unified Payments Interface (UPI), has a reported 350 million users, while Pix, Brazil's equivalent, has 140 million. The Atlantic Council, these figures represent 25% and 65% of each country's population, respectively.
According to a statement provided to Reuters, the office of the Brazilian President said: 'The leaders discussed the international economic scenario and the imposition of unilateral tariffs. Brazil and India are, to date, the two countries most affected.'
Prime Minister Modi's office is quoted saying that 'the two leaders exchanged views on various regional and global issues of mutual interest.' Digital payments are becoming a meaningful component of geopolitics, as can be seen by the push towards stablecoin solutions worldwide. Governments are increasingly recognizing the significance of digital payment systems, leading to a renewed push by administrations around the world to take an official stance on the concept.
In particular, there's a recognition that the growing influence of stablecoins could jeopardize the status of the U.S. dollar globally and ultimately undermine the West-dominated global financial system. More broadly, the popularity of private stablecoins could undermine government control of their monetary systems.
These concerns have led countries such as the United States to bring stablecoins within their jurisdiction and use them as leverage to preserve the status quo rather than threaten it. On the other hand, it has led other countries to accelerate their stablecoin projects tied to local currencies.
European Institutions have also raised the alarm over the dangers of being 'left behind'. Last month, the European Central Bank (ECB) published a report warning that without a strategic response, 'European monetary sovereignty and financial stability could erode.'
This month, it was widely reported that China is softening its attitude toward stablecoins in response to the growing influence of USD-based stablecoins such as Tether.
After visiting Brazil last month, Prime Minister Modi is next set to visit China for the first time in over seven years.
Watch: How to buy things with Bitcoin
title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Glasgow Times
11 minutes ago
- Glasgow Times
Donald Trump and Vladimir Putin shake hands in Alaska as Ukraine war talks begin
After descending from Air Force One, Mr Trump applauded the Russian leader as he approached, walking along red carpets that had been placed for each leader on Friday. They gripped hands for an extended period of time, with both men smiling, and Mr Putin eventually grinned and pointed skyward while their hands were still clasped. US President Donald Trump greets Russia's President Vladimir Putin at Joint Base Elmendorf-Richardson, Alaska (Julia Demaree Nikhinson/AP) Uniformed military members stood at attention nearby at Joint Base Elmendorf-Richardson, and B-2s and F-22s — military aircraft designed to oppose Russia during the Cold War — flew over to mark the moment. Reporters nearby yelled, 'President Putin, will you stop killing civilians?' and Mr Putin put his hand up to his ear but did not answer. Mr Trump and Mr Putin both climbed in the US presidential limo, with Mr Putin grinning widely as the vehicle rolled past the cameras. It was the kind of reception typically reserved for close US allies and belied the bloodshed and suffering in the war Mr Putin started in Ukraine. Although not altogether surprising considering their longtime friendly relationship, such outward friendliness before hours of closed-door meetings is likely to raise concerns from Ukrainian President Volodymyr Zelensky and European leaders, who fear that Mr Trump is primarily focusing on furthering US interests and not pressing hard enough for Ukraine's. Mr Zelensky and European leaders were excluded from Mr Trump and Mr Putin's discussions, and Ukraine's president was left posting a video address in which he expressed his hope for a 'strong position from the US'. White House press secretary Karoline Leavitt said the previously planned one-on-one meeting between Mr Trump and Mr Putin is now a three-on-three meeting that will include US secretary of state Marco Rubio and special envoy Steve Witkoff. The change indicates that the White House is taking a more guarded approach than it did during a 2018 meeting in Helsinki, when Mr Trump and Mr Putin first met privately just with their interpreters for two hours. US President Donald Trump greets Russia's President Vladimir Putin at Joint Base Elmendorf-Richardson, Alaska (Julia Demaree Nikhinson/AP) The Kremlin says the summit will also include the two delegations meeting and talks continuing over lunch. The men are expected to hold a joint press conference. The Kremlin shared two clips of Mr Putin and Mr Trump smiling and talking before talks began, alongside Russian foreign minister Sergey Lavrov and Mr Putin's foreign affairs adviser Yuri Ushakov. Russian media outlets also shared images that appeared to show a bemused Mr Putin raising his eyebrows in response to shouted questions from assembled reporters. At one point, Mr Putin cupped his hands around his mouth and appeared to say something, although his voice could not be heard. US President Donald Trump meets with Russia's President Vladimir Putin at Joint Base Elmendorf-Richardson, Alaska (Julia Demaree Nikhinson/AP) Interviewed by Bret Baier of Fox News Channel aboard Air Force One as he flew to Alaska, Mr Trump said he would like to walk away from the meeting with a ceasefire. He also said he would like a second meeting on Russia's war in Ukraine. 'I wouldn't be thrilled if I didn't get it,' Mr Trump said of a halt to hostilities between the countries. He said everyone tells him he will not get a ceasefire until a second meeting. 'So, we'll see what happens. I'm going to be, I won't be happy if I walk away without some form of a ceasefire,' he said. Russian President Vladimir Putin speaks as he meets President Donald Trump (Julia Demaree Nikhinson/AP) Mr Trump earlier joked that he 'might start liking Hillary Clinton again' after the former secretary of state said she would nominate Mr Trump for a Nobel Peace Prize herself if he negotiates an end to Russia's war on Ukraine without Ukraine having to give up territory. 'Well, that was very nice,' Mr Trump said when asked about Ms Clinton's comment during an in-flight interview with Fox News Channel. 'I may have to start liking her again.' Mr Trump and Mr Clinton were presidential rivals in 2016 and have had a contentious relationship. Mr Trump has also been angling to be awarded the prestigious peace prize. If Donald Trump negotiates an end to Putin's war on Ukraine without Ukraine having to cede territory, I'll nominate him for a Nobel Peace Prize myself. — Hillary Clinton (@HillaryClinton) August 15, 2025 The sit-down gives Mr Trump a chance to prove to the world that he is both a master dealmaker and a global peacemaker. He and his allies have cast him as a heavyweight negotiator who can find a way to bring the slaughter to a close — something he used to boast he could do quickly. For Mr Putin, a summit with Mr Trump offers a long-sought opportunity to try to negotiate a deal that would cement Russia's gains, block Kyiv's bid to join the Nato military alliance and eventually pull Ukraine back into Moscow's orbit.
Scotsman
11 minutes ago
- Scotsman
Why Scottish independence is the opposite of Brexit and John Swinney's plan is the right one
Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The SNP, and Scotland, suffered a grievous loss this week with the passing of former Presiding Officer George Reid, the last of the 1970s intake of SNP MPs. George was pro-independence because he was an internationalist. He recognised that for Scotland, and its citizens, to thrive, it needed to be a full member of, and active participant in, the European and broader international community. Not because Scotland is unique or better than any of its neighbours, but for the rather more mundane reason that Scotland should simply be the same as them. Of the Brexit debacle, he claimed a 'moral responsibility' to speak out against a move that would 'negate everything I've believed all my public life'. Advertisement Hide Ad Advertisement Hide Ad I spoke to him when I was writing my own book, Nation to Nation: Scotland's Place in the World, for his own characteristically thoughtful take. There is a long internationalist tradition among those who support independence that underlines the overall movement's commitment to the international rules-based system. This has been championed by successive political giants including Professor Neil MacCormick, Winnie Ewing, George and, going back to the party's foundations, Robert Cunninghame Graham among others. Internationalism has long been a theme within the Scottish independence movement (Picture: Jeff J Mitchell) | Getty Images Brexit celebrated in Kremlin The appeal sits at the heart of the case for independence, and reimagining the governance mechanisms among the nations of these islands. Scotland's independent neighbours of a similar size such as Norway, Denmark, Ireland and Finland have thrived with independence vastly improving their citizens' lot, whilst making a positive contribution to the world. In that regard the independence that George sought is the opposite of an increasingly isolated Brexit Britain that has turned its back on its neighbours. A Brexit project that leaves its citizens worse off, celebrated in the Kremlin and Trump's White House, whilst being mourned across mainstream democratic Europe. A failed project that has reduced the rights of anyone who holds a British passport, diminished the UK's standing in the world and put unnecessary barriers up to business. Advertisement Hide Ad Advertisement Hide Ad Brexiteers seek a world that does not exist, and we're all suffering the consequences for that misadventure. No state sits alone and is truly sovereign. Professor Neil McCormick knew that, as did George. The international rules-based system and the views of other state actors count, not least in Europe where the sharing of sovereignty keeps the peace, enhances prosperity and creates a better standard of living. As foreign ministers from Dublin to Helsinki, Copenhagen to Ljubljana understand, it also strengthens the independence and sovereignty of European states no longer subject to the whims of great powers. That idea of respecting the rules and that no state sits alone speaks to John Swinney's Independence strategy. The First Minister's announcement that he wants the SNP to gain an independence referendum through the party winning a majority of seats is because he knows that the process counts. As he said earlier this week: 'You can't deliver independence unless your country has domestic and international legitimacy.' Advertisement Hide Ad Advertisement Hide Ad Getting London's agreement matters There are those who disagree with independence and simply wish the issue would go away. That is undemocratic and short-sighted in the light of consistent polls that show that at least half the population want to see the nation regain its sovereignty. There are also those supporters who think that there are simple solutions that will provide a shortcut to independence. I am not sure that a UK Government that doesn't agree to a referendum, even faced with popular support for one and another independence majority in the Scottish Parliament, will somehow roll over in those circumstances. Gaining agreement from London matters to the rest of the world and it should therefore matter to Scots. As an internationalist and believer in independence, I can understand the frustration. However, no one is more frustrated than the First Minister who has campaigned for and believed in independence his whole adult life. He sees daily the restrictions placed on his administration in terms of spending, tackling child poverty, engaging with the EU and measures that other nations take for granted. The mechanism of the SNP gaining a majority has triggered a referendum in the past, and if you support independence, then 'both votes SNP' is the most logical approach. Some Greens may disagree, and they have every right to, as the only other pro-independence party which has gained any real public support at the ballot box. That said, in 2011, when a referendum was granted, it was because the SNP were winning seats both on the constituency and regional list vote. In 2016 unionists claimed there was not a majority, unfairly, effectively, counting Green party votes as being pro-Union. Advertisement Hide Ad Advertisement Hide Ad A voluntary Union? If unionist politicians disagree with this approach, it is for them to come up with an alternative. In 2016, the SNP won a greater share of the vote and constituency seats than either Boris Johnson's Conservatives did in 2019 (bringing in profound changes with what they considered to be a mandate for a hard Brexit) or Keir Starmer's Labour did in 2024. If the Union is a voluntary one, then what are the rules for ending it? One cannot simply make them up after an election. If the Union is no longer voluntary, then it is a very different one from that on the ballot in 2014. If so, we deserve a vote on that prospectus as do the hundreds of thousands of Scots who have never had the opportunity to vote on sovereignty. We are still a long way out from the Holyrood elections. At this stage 15 years ago, the SNP had just lost heavily to Labour in the 2010 general election and were behind in the polls. Bookies had the SNP at 11-2 to be the biggest party in 2011. There is all to play for. If, like George did, you believe in an outward-looking, internationalist Scotland then it has to be backing the First Minister's plan for both votes SNP.
Daily Mirror
2 hours ago
- Daily Mirror
New 129-day cruise launched from Sydney to London with 'unlimited food and drink'
Oceania Cruises has announced the newest route in its 2027 Around The World line-up: a 129-day voyage from Sydney to London designed to explore the wonders of Asia, the Mediterranean and beyond A major cruise company has launched a new trip from Sydney to London—lasting over four months. The 'Kangaroo Route' will span 129 days and is set to depart for the first time in 2027. According to Oceania Cruises, this new route will allow travellers to 'journey along the magnificent coastlines of Australia before spending more than two months exploring the cultural and natural wonders of Asia '. The voyage will include 'iconic cities and hidden gems of the timeless Mediterranean' before concluding in London. The trip will depart from Sydney on February 26, 2027 and arrive in London on July 5, 2027. In between, the ship will visit more than 80 ports across 34 countries and four continents. It comes after a warning to Brit tourists planning all-inclusive holidays to Spain. The itinerary includes Egypt, Dubai, Abu Dhabi and Doha, as well as European hotspots including the shores of Greece and Italy, as well as medieval cities in Croatia and Spain's Costa del Sol. The itinerary also features overnight stays in locations including Cairns, Shanghai, Tokyo, Singapore, Mumbai, Luxor and Bordeaux. The cruise company, a subsidiary of Norwegian Cruise Line, said guests will have access to 'the most spacious standard staterooms at sea', which are 291 square feet, complete with verandas. The ship accommodates 1,200 passengers but comes with a steep price tag. Tickets start at £44,039 (promotional price) for a French Veranda room to £156,439 (brochure price) for an Owner's Suite. Unlimited beer, wine and spirits are included as part of the trip or passengers can opt for a shore excursion credit instead. Exclusive shoreside events are also included, as well as free luggage delivery and a visa package. The voyage will take place aboard the Oceania Vista, which features 11 dining venues, including the Polo Grill Steakhouse, the pan-Asian Red Ginger and the French restaurant, Jacques. Oceania will also offer immersive Culinary Discovery Tours ashore and hands-on cooking classes in the ship's Culinary Centre. Guests can enjoy onboard experiences in the ship's eight bars, lounges and entertainment venues, or unwind at the Aquamar Spa + Vitality Centre. There will also be onboard enrichment in the form of art classes and guest lectures. This Kangaroo Route is the newest addition to Oceania Cruises 2027 Around The World cruise portfolio. Other routes include a 180-day trip from Miami to London, a 244-day trip from Miami to New York, and a 127-day cruise from Miami to Doha. Oceania Cruises chief luxury officer Jason Montague said: 'Our new Kangaroo Route, crafted from the epic 2027 Around the World cruise, is much more than a voyage – it's a rare invitation to experience a vast part of the world with the comfort, warmth, sophistication and exceptional cuisine that Oceania Cruises is renowned for. 'We're thrilled to offer this immersive new journey of exploration in 2027, aboard Oceania Vista, spanning four and a half remarkable months. 'Our guests crave enriching journeys, and this itinerary has been thoughtfully designed to effortlessly blend diverse continents, vibrant cultures and authentic cuisines into one utterly unforgettable experience.'
