BRICS Digital Bank plans to issue a token backed by gold and other commodities

Based on the decisions of the 14th BRICS Summit (the summit was held on June 22, 2022 in China), the BRICS Digital Bank plans to issue a new token. This currency will be backed by gold and other commodities such as rare earths. This will make it possible to create a parallel existing system of payments around the world. At the BRICS Forum, Chinese President Xi Jinping called on the business community to expand cooperation in cross-border e-commerce, logistics and local currencies.