de-dollarization

The BRICS "Unit" currency (often stylized as "The Unit") refers to a proposed and partially piloted digital settlement instrument discussed within the BRICS bloc (Brazil, Russia, India, China, South Africa, plus newer members like Egypt, Ethiopia, Indonesia, Iran, and the UAE as of late 2025).
It is not a full-fledged common currency replacing national ones (like the euro does for EU countries), nor has it been officially launched or adopted by BRICS governments as a unified currency.
Key Details on "The Unit"Structure: It is designed as a unit of account for cross-border trade settlements, backed by a basket consisting of approximately 40% physical gold and 60% a weighted basket of BRICS national currencies (primarily the original five: Brazilian real, Russian ruble, Indian rupee, Chinese yuan, and South African rand).
The value adjusts daily based on market fluctuations in gold and these currencies.
Technology: Blockchain-based aiming for transparent, secure, and efficient transactions without relying on Western systems like SWIFT.
Purpose: To facilitate de-dollarization by enabling BRICS members (and partners) to settle trade in local currencies or this unit, reducing exposure to US dollar volatility, sanctions, and dominance in global finance.
Current Status (as of December 27, 2025)In late 2025 (around October-November), a pilot or prototype was launched by the International Research Institute for Advanced Systems (IRIAS, a Russian-linked think tank), issuing a small number of units (e.g., initial tests pegged to ~1 gram of gold per unit). This is described as a working prototype for wholesale trade settlements within the bloc.
It remains in testing/pilot phase, not widely used or officially endorsed by all BRICS central banks or governments. Some sources call it a "research initiative" rather than an official BRICS project.
No full launch has occurred, and it's primarily for inter-BRICS trade settlement, not retail use or replacing domestic currencies.
#BRICSCryptoRevolution #de-dollarization #blockchaineconomy
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