🚨China Launches Global Digital Payment Network Beyond SWIFT
The People's Bank of China has recently linked its digital currency "Renminbi" with ten countries from the Association of Southeast Asian Nations (ASEAN) and six countries from the Middle East, thus covering 38% of global trade.
This completely surpasses SWIFT and the U.S. dollar. Payments are now made in 7 seconds, instead of 3-5 days. Fees have dropped by 98%.
Energy traders from the Middle East are participating. ASEAN's trade in Renminbi reached 5.8 trillion yuan. Thailand settled oil payments in digital Renminbi.
While the United States discusses whether digital currency poses a threat, China has already established a global network encompassing 200 countries.
This is not just about payments; it is a path to digital liberation. It is a process of de-dollarization. And it is happening now.
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