The gold-backed BRICS unit currency pilot launched on October 31, 2025, marking the BRICS UNIT advances as the first working prototype that reduces dollar dependence in international trade right now. This BRICS alternative to the US dollar operates through a reserve basket of 40% gold and also 60% BRICS currencies, with the BRICS payment system targeting wholesale cross-border settlements between member nations.
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BRICS UNIT Advances As Gold-Backed Currency Alternative To US Dollar
The International Research Institute for Advanced Systems, also known as IRIAS, drives the BRICS UNIT advances and issued 100 UNITs as an initial pilot, pegging each one to 1 gram of gold. IRIAS announced the gold-backed BRICS unit on November 10, 2025, on the Cardano blockchain network and shared some details about its structure.
The formula for valuing the UNIT is 40% gold (by weight) and 60% based on a basket of BRICS currencies.
Strategic Implementation
The BRICS unit currency is not a replacement of national currencies but is used as a neutral settlement instrument by the members of the bloc which include Brazil, Russia, India, China, South Africa, and also Egypt, Ethiopia, Indonesia, Iran, the United Arab Emirates. BRICS payment system allows member countries to trade gold, platinum, and even rare earth out of Western-controlled platforms at the moment.
In April 2023, Brazilian President Luiz Inacio Lula da Silva said:
Why can’t an institution like the BRICS bank have a currency to finance trade relations between Brazil and China, between Brazil and all the other BRICS countries? Who decided that the dollar was the (trade) currency after the end of gold parity?
As of writing, Russia tops BRICS gold reserves with 2,336 tonnes, China has 2,298 tonnes and India has 880 tonnes. In September 2025, Brazil has contributed 16 metric tonnes and the IMF records indicate that the reserves have grown by 129.7 tonnes to 145.1 tonnes, which intensifies the supporting potential of the gold-backed BRICS unit.
Timeline and Coordination
The BRICS UNIT advances despite some coordination challenges. Russian President Vladimir Putin clarified the timeline during his December 2025 India visit, stating:
There is no rush, and by avoiding haste, you can avoid many grave mistakes.
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The BRICS unit currency operates as a settlement instrument that was designed specifically for wholesale, cross-border trade in what’s being called a multipolar financial world. The BRICS UNIT advances as more countries express interest in alternatives to the existing dollar-dominated system, and the gold-backed BRICS unit provides a stable option anchored in physical assets.