BRICS central banks accelerated gold buying in 2025, snapping up 663 metric tonnes — about $91 billion — in just the first nine months of the year, the World Gold Council reports. That surge pushed combined BRICS reserves to 6,026 tonnes even as gold climbed to record levels, driven largely by a strategic push to reduce reliance on the US dollar. Why it matters for crypto and payments - The buying spree isn’t only about bullion hoarding. BRICS members are actively reshaping reserve composition and payment rails, signaling a broader move toward de-dollarization and alternative settlement systems that intersect with blockchain-based infrastructure. - A key milestone: on November 10, 2025 BRICS launched a gold-backed “Unit” through the International Research Institute for Advanced Systems on the Cardano blockchain. The Unit is pegged 40% to gold and 60% to BRICS currencies and is designed as a cross-border trade settlement unit for member states — a clear example of gold and blockchain converging to create new digital settlement rails. Central bank momentum and reserves - Central bank gold purchases jumped 41% in Q2 2025, reaching 166 tonnes and accelerating major acquisition programs across the bloc. - Major holders (as reported): - Russia: 2,336 tonnes - China: 2,298 tonnes - India: 880 tonnes - Brazil: after its first buy since 2021, reserves rose from 129.7 to 145.1 tonnes by September - Overall, BRICS’ gold allocation in reserves has doubled over five years — from 6.4% to 12.9% by Q3 2025, a 102% increase. Market reaction and broader shifts - Gold prices surged alongside demand, touching $4,381 per ounce in October and trading around $4,200–$4,300 at the time of reporting. - The dollar’s share of global forex reserves fell to 56.32% in Q2 2025 — its lowest level in three decades — coinciding with BRICS’ reserve growth and the rise of alternative payment systems like mBridge. - Industry voices are taking note: mining financier Frank Giustra warned at the Precious Metals Summit that “we’re now, believe it or not, in the era of hard money. If you own paper gold, you do not own gold. When the crunch comes, it will not be there,” and added, “Everybody’s scrambling to get physical gold onto their own territory. This time is going to be chaotic.” Implications - The gold buying frenzy and the launch of a blockchain-based, gold-backed BRICS Unit point to a shift in how gold is used — from passive reserve storage to an active settlement tool in cross-border trade. - For the crypto and fintech space, the Cardano-based Unit and growing interest in alternate rails (mBridge and others) suggest expanding intersections between traditional reserve assets and programmable digital currencies or tokenized gold — developments likely to affect liquidity, cross-border settlement speed, and how nations manage currency risk. What to watch next - Adoption rate of the BRICS Unit for trade settlement among member countries - Further central bank purchases and repatriation of physical gold - Developments in blockchain-based settlement platforms (Cardano projects, mBridge integrations, tokenized gold instruments) - Movements in the dollar’s reserve share and how that reshapes FX and commodity dynamics Bottom line: BRICS’ 2025 gold buying spree and the rollout of a gold-backed digital Unit on Cardano are tangible signs that global reserve strategy and cross-border settlement are evolving — and blockchain is becoming a frontline technology in that evolution. Read more AI-generated news on: undefined/news