- BRICS nations are actively developing a Gold-backed shared currency aimed at rivaling the U.S. dollar.
- The currency is not yet live, but infrastructure is being built, and member countries are already settling trade in their national currencies.
- China, Russia, and other BRICS members have increased gold reserves to support this planned currency.
- A launch target for the BRICS currency has been discussed for 2026, though the exact timeline remains uncertain.
- Recent shifts in global trade and financial systems have accelerated de-dollarization efforts among BRICS members.
The nations forming BRICS—namely Brazil, Russia, India, China, and South Africa, along with newer members—are working on a gold-backed currency designed to challenge the dominance of the U.S. dollar. The currency is in development, with a potential launch discussed for 2026. Although the shared BRICS currency is not yet active, member countries are carrying out increasing numbers of trades using their own national currencies and are developing supporting infrastructure.
These efforts come as BRICS represents over 40% of the world’s population and about 30% of global GDP. Official statements indicate that China and Brazil have already begun settling trade in yuan and real, while Russia and India are conducting transactions in their respective national currencies. Some nations, such as Saudi Arabia, have shown openness to trading oil with non-dollar payment options.
Gold reserves play a central role in the proposed BRICS currency. Russia and China have been stockpiling gold, which is seen as a move to give future currencies a backing in physical assets rather than fiat currency, which relies solely on trust in governments. The article notes, “You can’t print more money unless you have more gold, which forces discipline and limits inflation.”
Recent global events, such as the U.S. freezing Russian assets following the Ukraine conflict and blocking Russia from the SWIFT global payment system, have motivated BRICS countries to speed up development of alternatives to the dollar. To facilitate this, China and Russia have begun establishing payment systems independent of traditional Western financial networks.
Industry experts observe that if a gold-backed BRICS currency launches by 2026, even in part, it could encourage countries to shift their reserves away from the dollar and toward gold or the new currency. The project’s progress is watched closely by financial experts worldwide, as it signals major shifts in the international monetary landscape. For more details on current trade arrangements, see how nations are already conducting bilateral trades in their own currencies.
The U.S. dollar remains the main settlement currency in about 85% of global trade, but ongoing efforts by BRICS to increase use of national currencies and launch a gold-backed alternative add pressure to the current system. A weak dollar could mean rising costs for American imports and increased inflation if this shift continues.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Crypto VC Firms Grow Cautious as Startup Funding Drops 59% in Q2 2025
- Bitcoin’s Four-Year Cycle Debated as October Peak Nears, Exec Says
- Crypto Market Surges: Stablecoins Top $300B, Bitcoin ETFs Soar
- Coinbase Applies for National Trust Charter to Bridge Crypto, TradFi
- Standard Chartered: Bitcoin Could Hit $135K Soon, Defying Past Trends
