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BRICSTether is set to launch as an alternative to the USD and USDT, as many flee the collapsing US banking system

The BRICS plus nations have spoken about creating an alternative currency to settle trades and escape sanctions imposed by the West for sometime.BRICSTether has been set up to be an alternative, using a 100% asset backed stable coin. It would mean companies and entire countries could utilise BRICSTether with low cost and almost instant payments. BRICSTether is doing a low key listing on a mid tier exchange, Azbits on March 31st,2023, to test systems before expanding volumes and the number of exchanges that are waiting to list it on. USDT has grown to be worth $74 billion despite it being potentially only 66% asset backed and reluctant to provide audits. BRICSTether is 100% asset backed and will provide quarterly audited updates of its asset allocation and position.To reduce risk that banks are facing, that saw SVB collapse recently,and USDC lose its peg briefly, as it lost $3billion in the SVB collapse, it will hold Gold,Silver,Cash,Crypto,Real Estate ,some stocks and bonds.

It will be pegged to 7 Chinese Yuan (approximately $1USD currently)

Many investors and savers are panicking about holding all their cash in banks (especially as banks have often only 6% or less or the assets available from fractional reserve banking) and are shifting to Gold and Crypto. Stablecoins that are asset backed are typical safer cryptocurrencies . BRICSTether is also offer 5% pa for anyone staking for 90 days or more and 10% if staked for 12 months or more , according to its website

The Global Economic Forum endorses the new BRICSTether launching as an alternative to the US Central Banking Corrupted System,said a recent Press Release by the Organisation set up to be an alternative to the corrupted cult led WEF forum run by Klaus Schwab and other elites.

It went in to say that the days of USD dollar dominance are days drawing to a close, due to the abuse of their system of printing endless money and exporting inflation and funding a large military to be a Global bully, starting endless wars, including the Ukraine / Russian conflict and trying to provoke China over Taiwan .

Fintech and crypto is key to creating better systems to provide alternative ways of transacting globally outside the imploding US financial system.

The BRICS nations have been wanting for years to create their own currency, and some have said the new BRICSTether if it garners sufficient support, could become one of several ways to by pass the US SWIFT system.
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BRICSTether is endorsed by the Global Economic Forum