International Economy
BRICS is reportedly exploring a pilot gold-backed digital settlement currency called “The Unit”, though no official declaration has been made yet. It is envisioned as a blockchain-based digital instrument for cross-border trade, backed by physical gold along with the national currencies of BRICS members, offering a neutral and stable settlement option.
The pilot has been developed by the International Research Institute for Advanced Systems (IRIAS) with informal support from BRICS countries. Its core objectives are to reduce dependence on the US dollar in global trade and to provide a more resilient, gold-anchored alternative for international settlements.
APSC relevance: Important for multipolar currency debates, de-dollarisation efforts, digital currencies, and BRICS economic cooperation
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