Russia Launches Pilot for Digital Gold System in Global Trade

Russia is piloting a digital gold system for international settlements, aiming to reduce its reliance on the dollar and foreign payment systems.

The blockchain-based digital gold tokens are pegged to the price of gold and backed by real gold stored in vaults. This pilot program, using rubles to purchase digital gold assets, will test the feasibility of gold-backed payments for international exchanges. While the initiative shows promise, it also faces challenges and risks. The experiment could pave the way for broader use of digital gold, potentially aligning with the upcoming BRICS payment system.

Clever Robot News Desk 9^th March 2025