Russia and Indonesia Actively Discuss Mechanisms to Ditch US Dollar
Russia and Indonesia are moving toward ruble-rupiah trade settlements as sanctions and Russia’s SWIFT exclusion drive efforts to establish sustainable, dollar-free financial systems. Indonesia-Russia Trade Sees Shift to Ruble and Rupiah Settlements The global trend of reducing dependence on the U.S. dollar in international trade is gaining momentum, with nations increasingly exploring alternatives. Indonesia and […]
Russia and Iran Unite to Completely Replace SWIFT With Alternative Payment System
Russia and Iran are forging a confidential financial system to replace SWIFT, signaling a bold move to bypass Western dominance and reshape global economic power dynamics. Russia and Iran Deepen Ties in Push to Abandon SWIFT Completely Russia and Iran are collaborating to establish a secure financial messaging system as an alternative to the SWIFT […]
Swift, UBS, Chainlink pilot tokenized fund settlement
Swift, UBS and Chainlink aim to modernize traditional finance by enhancing tokenized fund processes with blockchain.This post was originally published on this site
Latam Insights Encore: Brazil’s Determination to Build a New Financial System Will Guide BRICS Toward a Common Currency Agreement
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine how Brazil’s firm determination to push the world toward a multipolar financial system can pay off in the long term. As the next chairman of BRICS, Brazil will be responsible […]
BRICS Payment System a SWIFT Substitute? Network to Implement Digital Assets and Financial Messages
The Russian Finance Minister offered insight into the inner workings of the new BRICS payment system at the recent summit held in Kazan. Anton Siluanov stated that the modern system will take digital financial assets into account and will be able to deliver financial messages. BRICS Proposed Payment System Might Use Digital Assets as Currencies […]
Global Finance Faces a Shift as Mbridge Digital Currency Platform Challenges US Dollar
The People’s Bank of China emphasized the Mbridge platform’s role in improving cross-border payments through the use of central bank digital currencies (CBDCs), aiming to reduce inefficiencies and avoid new barriers. The platform, which targets underserved regions like ASEAN, could reshape global finance and challenge the U.S. dollar’s dominance while requiring careful coordination to maintain […]
Digital Ruble and Sanctions: Expert Analyzes Russia’s Digital Currency Plan to Evade Western Control
A Fellow at the Carnegie Russia Eurasia Center and former adviser at the Central Bank of Russia has weighed in on the digital ruble, Russia’s central bank digital currency (CBDC), highlighting its potential role in reshaping Russia’s financial landscape amid sanctions. While the digital currency could offer new avenues for trade and reduce reliance on […]
Swift to Pilot Digital Asset and Currency Transactions in 2025
Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges of disconnected platforms. The trials build on successful blockchain experiments, seeking […]
Banks to join SWIFT digital asset trials in 2025
SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its upcoming digital currency trials in 2025.This post was originally published on this site
41 firms join BIS Project Agora to advance unified ledger applications
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.This post was originally published on this site