The long-discussed BRICS gold-backed currency powered by XRP technology is moving closer to reality, as member nations accelerate efforts to build an independent financial settlement system designed to bypass the US dollar.
Evidence continues to mount that central banks within BRICS countries—Brazil, Russia, India, China, and South Africa—have been quietly developing infrastructure on the XRP Ledger (XRPL) for years.
Financial researcher Versan Aljarrah of Black Swan Capitalist uncovered documents showing that BRICS institutions and the New Development Bank have explored XRPL’s escrow and automation features for secure cross-border payments.
“These aren’t just casual mentions,” Aljarrah noted, emphasizing that official BRICS materials demonstrate “a deliberate, structured effort to test distributed ledger tools for settlement outside Western systems.”
Russia and China appear to be leading the charge. Russia’s State Duma Committee on Financial Markets chairman, Anatoly Aksakov, confirmed that integration discussions are well underway:
“China has already developed its digital yuan and India will soon be actively introducing the digital rupee into the economy. This means the information systems of the three countries could be combined for transactions in digital currencies.”
According to Aksakov, Russia is already working to tokenize its gold reserves, while China expands its gold holdings to support future financial stability. The envisioned BRICS system would use gold as a reserve asset and XRP as a bridge currency, facilitating instant and low-cost settlements across multiple payment corridors.
India, however, has voiced caution. In a March 2025 statement, External Affairs Minister S. Jaishankar clarified:
“I don’t think there’s any policy on our part to replace the dollar. The dollar as the reserve currency is the source of global economic stability, and right now what we want in the world is more economic stability, not less.”
Despite India’s measured stance, the BRICS-XRP initiative signals a coordinated long-term strategy toward a multipolar financial system, reducing exposure to Western sanctions and enabling more autonomous trade. As pilot programs advance and gold accumulation continues, the BRICS bloc may soon redefine the foundations of global finance.
