BRICS Intensify Dollar Challenge with Gold-Backed Currency and Massive US Bond Sales

Source: El Economista | Original Published At: 2025-12-22 07:02:53 UTC

Key Points

• BRICS launched 'Unit' – a gold-backed (40%) currency using blockchain technology for intra-group trade, combining currencies from Brazil, China, India, Russia, and South Africa
• Member states conducted coordinated sales of US Treasury bonds, with China, India, and Brazil selling $11.8B, $12B, and $5B respectively in October 2025
• New currency aims to bypass SWIFT system and US financial control, with experimental implementation starting December 15, 2025 and full deployment expected by 2027
• BRICS countries hold 42% of global foreign exchange reserves and represent 48.5% of world population, positioning them to create a multipolar monetary system
• Experts note dollar's liquidity infrastructure cannot be replaced quickly, but acknowledge long-term potential for reduced dollar dominance in international trade