As per 36 Crypto, BRICS has launched a gold-backed UNIT currency, with XRP playing a key role in enabling faster global financial settlement. The new currency is backed by 40% gold and 60% a basket of BRICS currencies. XRP has been tested by BRICS-aligned banks for cross-border liquidity and atomic settlement. India has legally recognized XRP as property, allowing it to be used as collateral in financial transactions. The move aims to create a faster and more efficient financial system, with gold providing stability, silver ensuring liquidity, and XRP facilitating rapid asset movement. BRICS is not seeking to replace the U.S. dollar but to build a parallel system that operates on a faster denominator.Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.
