BRICS Advances on Gold-Backed Cryptocurrency as Dollar Alternatives Gain Momentum

Source: Berliner Zeitung | Original Published At: 2025-12-09 18:46:49 UTC

Key Points

• Russia's IRIAS institute launched a gold-backed 'Unit' cryptocurrency prototype (40% gold, 60% BRICS currencies) for international trade
• BRICS members are actively discussing alternatives to dollar-dominated financial systems amid Western sanctions
• India remains skeptical about common currency adoption despite promoting local payment systems like UPI
• Experts highlight challenges in creating a new reserve currency that avoids Euro-style structural issues
• Trump's sanctions threats mentioned as potential catalyst for countries seeking dollar alternatives