BRICSTether is a new stablecoin to launch shortly, which is planned to eventually be weighted to a basic of BRIC Nations currencies, but initially 1 BRICST will be pegged to 7 Chinese Yuan. It will be asset backed in fiat,crypto,bonds,gold,silver and real estate.
It couldn’t launch soon enough for some, especially Russians and other nations being sanctioned or losing faith in the USD. Binance recently announced its no longer going to allow Russians to buy USDT, so BRICST is expected to fill the gap for Russians, but also many BRICSPlus nations, not to mention many that are concerned re the fall of the USD. As the world shifts away from the Us dominated unipolar world, a multipolar world will see a search for alternative currencies for settling international trades. It’s expected many non Western countries will seek to utilise BRICST to support its growth to ensure alternative cross border settlements can occur inexpensively, outside the USD
BRICST will list on a small number of exchanges to start with and expand as its ramps up its operations.
BRICSTXchange is also is set to launch,designed to be one of the main exchanges to handle BRICS transactions.
