BTCC
/
BTCC Square
/
Global Cryptocurrency
/
BRICS Gold-Backed Digital Currency Gains Momentum as 40+ Countries Seek Dollar Alternative
BRICS Gold-Backed Digital Currency Gains Momentum as 40+ Countries Seek Dollar Alternative
15
2
BTCCSquare news:
The BRICS alliance is accelerating its de-dollarization efforts with a gold-backed digital currency, now attracting participation from over 40 nations. Eleven full members—including economic heavyweights China, Russia, India, and newly joined Saudi Arabia—are actively piloting the system. The MOVE threatens to erode the dollar's dominance in international trade as countries seek insulation from sanctions and currency volatility.
Southeast Asian economies like Malaysia and Thailand are among ten partner nations granted system access, while 20 others have formally applied to join. Saudi Arabia's July 2025 entry brings strategic oil reserves and gold holdings into the alliance, significantly bolstering the initiative's credibility.
By:
