- The Gold-backed BRICS UNIT pilot launched on October 31, 2025, serves as a working prototype to reduce reliance on the U.S. dollar in international trade.
- The UNIT is pegged 40% to gold and 60% to a basket of BRICS currencies, facilitating wholesale cross-border settlements among member nations.
- The pilot issued 100 UNITs, each backed by 1 gram of gold, operating on the Cardano blockchain network.
- BRICS members include Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
- The currency acts as a neutral settlement instrument without replacing national currencies, supporting trade in gold, platinum, and rare earth materials outside Western platforms.
The gold-backed BRICS UNIT currency pilot launched on October 31, 2025, marking a milestone in efforts to reduce dependence on the U.S. dollar for international trade. This new currency combines 40% physical gold by weight with 60% from a basket of BRICS member currencies. The system focuses on wholesale cross-border settlements between countries in the BRICS coalition.
The pilot phase included the issuance of 100 UNITs, each pegged to 1 gram of gold. These UNITs were introduced on the Cardano blockchain, a decentralized ledger technology, by the International Research Institute for Advanced Systems (IRIAS). The mix of gold and member currencies aims to create a stable instrument anchored in physical assets.
The BRICS bloc consists of Brazil, Russia, India, China, South Africa, as well as recent members such as Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates. Unlike traditional currencies, the UNIT does not replace national money but serves as a neutral tool for settling payments within the member states.
This payment system enables trade in commodities like gold, platinum, and rare earth elements outside Western-controlled financial platforms. In April 2023, Brazilian President Luiz Inacio Lula da Silva questioned the dominance of the U.S. dollar in trade finance, highlighting the motivation behind this initiative.
As of 2025, Russia holds the largest BRICS gold reserves with approximately 2,336 tonnes, followed by China with 2,298 tonnes and India with 880 tonnes. Brazil recently contributed around 16 tonnes to the reserves, supporting the currency’s gold backing.
During a December 2025 visit to India, Russian President Vladimir Putin emphasized a careful timeline for the currency’s rollout, stating “There is no rush, and by avoiding haste, you can avoid many grave mistakes.” The BRICS UNIT is designed for wholesale trade in a multipolar financial environment as global interest rises in alternatives to the dollar-based financial system.
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