Is hard currency on its way out? Introducing the new virtual world currency

The new virtual world currency is an index of the world’s 15 largest economies, weighted by their gross domestic product, adjusted for purchasing power parity.

Rocky Vega
Christian Science Monitor

When discussing reserve currency alternatives to the US dollar, conversation almost inevitably returns to the International Monetary Fund’s “synthetic reserve asset,” the Special Drawing Right (SDR).

However, the SDR basket of currencies is noticeably antiquated in its design, including only the currencies of industrialized nations… namely British Pounds, Euros, Japanese Yen, and US Dollars. This week, foreign exchange manager Overlay Asset Management has announced a currency basket it’s launching in order to offer a more up-to-date “virtual world reserve currency.”

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