- The BRICS coalition has launched the Gold-backed UNIT payment system to promote cross-border trade without relying on the US dollar.
- UNIT’s value is reportedly composed of 40% gold and 60% from a basket of BRICS currencies.
- Eleven countries are full participants in UNIT, with twenty-two more applying to join.
- BRICS nations have significantly increased their gold reserves, supporting the dollar-free trading system.
- The New Development Bank based in Shanghai is expected to issue UNIT, although this has not been confirmed.
The BRICS group has officially introduced the gold-backed payment system called UNIT. This system aims to facilitate wholesale, cross-border trade among member countries while reducing dependence on the US dollar. The launch reflects BRICS’s ongoing efforts to promote a multipolar financial environment and support trade conducted outside Western-controlled platforms.
UNIT is designed as a basket-backed, collateral-anchored instrument enabling transactions involving gold, platinum, and rare earth minerals. Eleven countries currently participate fully, with twenty-two others in the process of joining. This infrastructure provides a foundation for dollar-free commerce supported by physical gold rather than fiat currency.
Data shows that BRICS countries have been steadily increasing their gold reserves. For example, Brazil added 16 metric tonnes of gold in September 2025, its first purchase since 2021, raising its total reserves from 129.7 tonnes to 145.1 tonnes according to IMF data. Russia leads with 2,336 tonnes of gold, followed by China with 2,298 tonnes, and India holding 880 tonnes. Central banks worldwide bought more than 1,000 tonnes annually from 2022 through 2024, marking the longest such streak in modern times.
According to analyst Jim Rickards of Insider Intel, “The formula for valuing the Unit is 40% gold (by weight) and 60% based on a basket of BRICS currencies.” He also anticipates that the New Development Bank in Shanghai will issue the Units, although no official confirmation has been made. By anchoring UNIT to a commodity, the system avoids the characteristics of a fiat currency, such as the US dollar, according to insiders.
This development highlights BRICS’s strategy to build alternative, gold-backed monetary systems aligned with their growing geopolitical and economic influence.
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