💥ASEAN to Ditch USD? Regional Banks Launch Local Currency Payment System💥
🌏 Regional Move:
Bank Indonesia Governor Perry Warjiyo announced a strategic collaboration among ASEAN central banks to advance Project Nexus — a multilateral cross-border payment system that could challenge the dominance of the US dollar.
🔗 What’s Nexus?
Nexus aims to connect instant payment systems (IPS) across ASEAN countries, enabling cross-border transactions in local currencies rather than relying on USD.
🏦 Who's Involved:
Bank Negara Malaysia
Bangko Sentral ng Pilipinas
Monetary Authority of Singapore
Bank of Thailand
Bank for International Settlements (BIS)
QR code payments and fast retail payment systems will also be integrated under this initiative.
💬 Quote:
“This is about bridging infrastructures. We’re building a multilateral retail payment system to link our nations,” said Warjiyo.
💬 Market Mood:
ASEAN’s taking charge. A local currency boom may be coming — and USD hegemony might be in for a shakeup.
“ASEAN: ‘We’ll just use our own money, thanks.’”
“USD watching ASEAN like: ‘You’re breaking up with me… for you?’”
👉 Could this start a global de-dollarization trend?
👉 Follow for more on FX shifts, payment tech, and digital currency moves!