BRICS Currency and the New Global Settlement Architecture

This article presents an in-depth analysis of the evolution of the BRICS financial system, which extends beyond the traditional reserve currency. The authors argue that the Unit project and the BRICS Bridge platform are not merely an attempt to create a euro equivalent, but a comprehensive reconstruction of the payment infrastructure based on distributed ledger technology (DLT) and digital currencies (CBDC). The article details the process of dedollarization, in which the dollar is losing its status as the sole intermediary in favor of a multipolar settlement model. A key element of this new architecture is the linking of digital assets to real-world resources, such as gold and critical raw materials, intended to ensure monetary autonomy for countries in the Global South. The analysis also considers the strategies of India and Russia and the impact of these changes on the global hegemony of the SWIFT system.