🇨🇳 China Hits the Dollar: The Digital Yuan Advances

Recently, headlines have been circulating: "38% of global trade in digital yuan, SWIFT is being bypassed." It sounds like a revolution, but let's figure out what is really happening.

📌 Facts:

In 2023, the volume of cross-border transactions in yuan amounted to $7.2 trillion, +24% compared to last year.

According to SWIFT, the yuan has reached 2nd place among currencies in international payments, surpassing the euro with a share of 5.8%, but still far from the dollar (84.15%).

China's payment system CIPS is actively promoted as an alternative to SWIFT. Giants like HSBC are already connecting to it directly.

The digital yuan (e-CNY) is used within China, but its share in international trade is still minimal. The claim of 38% is false or exaggerated.

🧠 What does this mean for the crypto market?

The world is moving towards a multi-currency model. The dominance of the dollar will be slowly but surely eroded.

China is playing the long game: developing CBDC (state cryptocurrency), moving away from #SWIFT , and building an alternative financial system.

For crypto, this is a signal: centralized digital currencies are a trend, but decentralization is still our advantage.

Do you believe that China can displace the dollar in the next 10 years?

$USDT