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Global Finance Faces a Shift as Mbridge Digital Currency Platform Challenges US Dollar

[Oct 24 3:30 AM] 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…

Indonesia Expands De-Dollarization Efforts With National Task Force Formation

[Sep 9, 2023 12:00 AM] Indonesia’s central bank has established a national task force to expand the use of local currency with partner countries. Malaysia, Thailand, Japan, and China are already trading with Indonesia using local currencies. In addition, Singapore…

Vietnam, the Philippines, and Brunei to Join ASEAN QR Payment System to Reduce Dependence on US Dollar

[Aug 29, 2023 1:30 AM] Vietnam, the Philippines, and Brunei will join a QR payment system to settle cross-border payments using local currencies within the Association of Southeast Asian Nations (ASEAN) bloc. The network, already being used between Indonesia and…

Former UN Security Council President Kishore Mahbubani: ‘The American Century Is Over’

[Jul 24, 2023 2:30 AM] Kishore Mahbubani, the former president of the United Nations Security Council, stated China will dominate this century. Mahbubani declared that the so-called “containment policy” against China would fail, leaving the U.S. isolated from…

Russia, 10 Southeast Asian Nations Discuss Using National Currencies in Trade Settlements

[Jul 14, 2023 9:30 PM] Russia is discussing using national currencies in trade settlements with 10 Southeast Asian countries, members of the Association of Southeast Asian Nations (ASEAN), Russian Foreign Minister Sergey Lavrov has revealed. The move comes as more and…

Shanghai Clearing House Introduces Support for Digital Yuan Settlements

[Jun 28, 2023 2:00 AM] The Shanghai Clearing House, Asia’s first counterparty clearing institution, announced support for payments made with the digital yuan Monday. According to reports, the move will allow companies to settle transactions for commodities in bulk…

Russia Actively Shifting to Settlements in National Currencies, US Dollar Share Declining, Says Foreign Minister

[May 30, 2023 7:30 PM] Russia is actively shifting to settlements in national currencies with its partners, Foreign Minister Sergey Lavrov has affirmed. He expects the transition away from the U.S. dollar to only gain momentum. “This is true not only for Africa, but also…

Putin Rejects Russian Economic Collapse Predictions — Highlights Active BRICS, SCO Cooperation

[May 25, 2023 7:30 PM] Russian President Vladimir Putin says Russia is actively cooperating with major international organizations, including the BRICS group, the Shanghai Cooperation Organization (SCO), the Association of Southeast Asian Nations (ASEAN), the Gulf…

Rand Plunges After US Weapons Accusations Against South Africa, Schiff Criticizes Misleading Inflation Numbers, and More — Bitcoin.com News Week in Review

[May 21, 2023 7:30 AM] Another exciting week in crypto and finance has come and gone, with news of U.S. government accusations against South Africa, regarding the alleged supply of the Russian state with ammunition. In other news, ten Southeast Asian nations are…

Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration

[May 20, 2023 1:00 AM] The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to…

10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies

[May 13, 2023 8:00 PM] The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei…

ASEAN Countries Take Steps to Reduce Reliance on US Dollar for Trade Settlements

[Apr 3, 2023 6:30 PM] The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) are exploring ways to decrease their countries’ dependence on the U.S. dollar and promote the use of local currencies in trade settlements…

India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

[Apr 3, 2023 2:30 AM] The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this…