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BTCC / BTCC Square / Global Cryptocurrency /
BRICS Launches Gold-Backed Trade Currency in Challenge to Dollar Dominance

BRICS Launches Gold-Backed Trade Currency in Challenge to Dollar Dominance

Author:
Global Cryptocurrency
Published:
2026-01-10 10:23:02
10
2
BTCCSquare news:

The BRICS alliance has unveiled a gold-pegged settlement currency, marking the bloc's most direct challenge yet to dollar hegemony in global trade. The new Unit, operational since October 31, blends 40% physical gold reserves with 60% weighted basket of member currencies—Real, Yuan, Rupee, Ruble, and Rand—creating a hybrid instrument designed for invoice clearance without FX conversions.

Developed on IRIAS blockchain infrastructure, each Unit represents 40 grams of bullion paired with currency components. 'This isn't meant for retail transactions but rather as a sanctions-resistant conduit for sovereign trade settlements,' notes Andy Schectman of Miles Franklin. The structure intentionally bypasses correspondent banking networks vulnerable to geopolitical pressures.

Gold's anchoring role addresses volatility concerns while maintaining convertibility pathways—a strategic hedge for nations seeking dollar alternatives without fully abandoning legacy financial rails. Early adoption could pressure dollar liquidity in emerging markets trade corridors.

|Square

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