BRICS Launching New Stablecoin Pegged By Chinese Yuan & Gold-Backed Currency!
BRICS Launching New Stablecoin Pegged By Chinese Yuan & Gold-Backed Currency!
We Love Africa: 8-25-2024
What will the new Brics currency look like?
Until now, there have been speculations about whether Brics will launch a new currency in competition with the US dollar or not.
Even though there were official talks on launching a new payment system, like SWIFT, no official news came about Brics currency. But things have changed now.
Brics is thinking of various options, considering what to use to peg the new currency. In this respect, Russia has increased its efforts and wants to launch the currency before its chairmanship ends this year.
As of now, Brics has proposed either launching a cryptocurrency pegged by the Chinese Yuan or a whole new currency pegged by gold.