The Global Currency Wars Heat up, as the BRICS Nations Push to End the USD Dominance. BRICSTether, the Alternative to the USD’s Tether, in USDT, Launches as Another Threat to People Bypassing the USD
In a press release from the top 30 exchange Coinsbit, it just announced it is listing BRICSTether, a 100% asset-backed cryptocurrency, designed as a clear alternative to the USD and USDT (USD tether)
USDT is about to reach a $100 billion market cap, which was co-founded by a Hollywood child actor, and some fellow crypto geeks.
BRICSTether has to only achieve 1% of USDT market cap to be a billion-dollar Unicorn and is expected to attract significant investor interest, both as a place to store one’s money in a 100% asset-backed stablecoin. But it’s doing a capital raising to take on both private investment partners and NGO’s.
It was reported recently that BRICSTether, was asked to bring their plans forward if they wanted to be considered as one of the alternatives to be considered at the upcoming BRICS summit in Durban, Sth Africa this August.
BRICS nations have made it clear they want an alternative currency and are considering digital currency options.
A BRICSTether could help many, especially in countries where the banking system is limited, and those wanting to diversify from the falling USD and collapsing US banks.
Bitcoin is popular in many of these countries, however, a stablecoin, that’s 100% asset-backed, would be a safer option for transactions. It’s reportedly offering a 10% pa return for staking (holding) for 12 months or longer.
Below is the release from Coinsbit.
Don’t miss BRICST token listing on Coinsbit!
Dear users, we are glad to inform you that BRICST token will be available on Coinsbit on 01.05.2023!
BRICSTether is a project that aims to create a stable and secure platform for transactions and investments in the BRICS region and beyond.
BRICST is an ERC-20 digital currency, which the project claims is a 100% asset-backed stablecoin (an alternative to USDT) and can be used for payments, investments, and savings. The project claims that through an innovative staking program, users have the opportunity to earn up to 5% per annum by staking their coins for 90 days or 10% per annum for staking for 12 months.
Follow the links below to get more info:
Stay tuned to get updates and the latest news from Coinsbit!
One thing that can be certain, is the threats to the USD dominance will continue as many seek safer harbours outside the struggling US.