I noticed something interesting that’s worth exploring. The BRICS have just launched a new BRICS currency called UNIT, and honestly, it’s a fairly significant strategic move for global financial markets.

Here’s how it works: this new BRICS currency is backed by gold at 40%, with the rest composed of a basket of member countries’ currencies. The idea behind it is to create smoother cross-border liquidity and accelerate settlements in crypto markets. It’s clearly an attempt to bypass some frictions of the traditional financial system.

Now, the role of XRP in all this is really crucial. The cryptocurrency facilitates atomic settlement and provides the liquidity needed for this system to operate. And it’s interesting because India has officially recognized XRP as property, which opens the door for its use as collateral. This strengthens the infrastructure around this new BRICS currency.

Recently, XRP was trading around $1.45 with a 1.11% increase over 24 hours. That’s the kind of relative stability markets are looking for in this context.

UNIT is positioned to operate alongside the US dollar, offering a faster and potentially more stable alternative. And this isn’t just theory: BRICS-aligned banks have already tested XRP and validated its effectiveness for asset transfers. It shows there’s real infrastructure backing this project.