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Originally published by Nation Business
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business
September 15, 2026
1h ago

What’s the BRICS ‘UNIT’? And could it really challenge US dollar?

What’s the BRICS ‘UNIT’? And could it really challenge US dollar?

The bloc is exploring a new way to reshape cross-border trade...

✨ Key Highlights

Emerging economies under the BRICS+ bloc are developing a new digital currency and payment system called the UNIT, potentially challenging the dominance of the US dollar in global trade.

  • The UNIT is backed by a reserve basket of 40% gold and 60% BRICS+ currencies, utilizing blockchain technology.
  • The expanded BRICS+ group, including members like China, India, and newly added nations such as Egypt and Saudi Arabia, accounts for 48.5% of the global population and 39% of global GDP (PPP).
  • This initiative aims to reduce dependence on the US dollar for cross-border trade and could foster greater economic interdependence among member states.

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