The BRICS grouping has officially launched its long-anticipated gold-backed UNIT payment system, marking a major step toward building an alternative global financial architecture.
Designed as a collateral-anchored settlement instrument for cross-border trade, UNIT aims to reduce reliance on the US dollar and strengthen monetary cooperation across a rapidly expanding bloc. The system allows participating countries to conduct trade in gold, platinum, and rare earth minerals outside Western-controlled financial platforms.
Eleven nations are already full participants, while another twenty-two are in the application stage—an unprecedented expansion that underscores global interest in dollar-free trade mechanisms. As one BRICS analyst explained on X, “UNIT reflects the rise of collateral-anchored settlement instruments and the geopolitical bifurcation of global payments into bloc-based parallel monetary systems.”
BRICS states have spent years preparing the groundwork for this shift through massive gold accumulation. By 2025, BRICS central banks collectively held more than 6,000 tons of gold, accounting for roughly 20–21% of global central bank reserves. Russia leads with 2,335.85 tons, closely followed by China at 2,298.53 tons and India at 879.98 tons.
Brazil and South Africa, though holding smaller amounts—145.1 tons and 125.47 tons respectively—have also stepped up their purchases, with Brazil recording its first significant gold acquisition since 2021.
These stockpiles provide the foundation for the UNIT system’s stability. According to financial analyst Jim Rickards from Insider Intel:
“The formula for valuing the Unit is 40% gold (by weight) and 60% based on a basket of BRICS currencies.”
He added that the BRICS New Development Bank in Shanghai is expected to serve as the issuer, though this has not yet been officially confirmed.
Global central banks have been increasing gold purchases for years, buying more than 1,000 tons annually between 2022 and 2024—the longest sustained surge in modern history. With the launch of UNIT, BRICS now moves from accumulation to application, offering one of the clearest alternatives yet to dollar-dominated trade.
