BRICSCOIN has received international media coverage with the publication of a dedicated article by IOL, one of South Africa’s major news platforms.

Published on September 10, the article, “BRICSCOIN: A trade settlement currency with no peg, no interest — and a diamond inside,” presents the concept of BRICSCOIN and examines its potential role in trade settlement between BRICS countries.

👉 Read the full article on IOL

A new approach to BRICS trade settlement

BRICSCOIN is proposed as a supranational settlement currency for international trade, while participating countries retain their existing national currencies and independent monetary policies.

Unlike conventional proposals for a BRICS common currency, BRICSCOIN is not pegged to the US dollar, gold, or a basket of national currencies. Its purpose is to provide a neutral settlement layer for trade between participating countries.

The proposal also introduces a distinctive physical security mechanism. Each physical BRICSCOIN can contain a natural diamond whose unique internal characteristics can be recorded and used as a physical fingerprint for authentication. The diamond is a security feature, not a backing for the currency.

The initial concept focuses on establishing BRICSCOIN through selected trade corridors, with China–Russia, India–South Africa and Brazil–India among the potential examples.

The IOL publication brings the BRICSCOIN proposal to a broader international audience at a time when the future of international trade settlement and the role of the US dollar are receiving increasing attention.

BRICSCOIN remains an economic proposal open to further research, discussion and potential pilot implementation.