๐ Beijing (ConsumerWatch News) โ A financial revolution is underway! ๐จ๐ณ
Chinaโs Peopleโs Bank of China has announced that its Digital RMB (e-CNY) is now fully connected with 10 ASEAN and 6 Middle Eastern countries โ meaning 38% of global trade can now bypass the U.S. dollar-dominated SWIFT system and move directly into the Digital RMB era. โก
๐ฑ 7 Seconds Transactions!
While SWIFT still takes 3โ5 days for cross-border settlements, Chinaโs Digital Currency Bridge processes payments in just 7 seconds.
In the first Hong KongโAbu Dhabi trial, a company paid a supplier using Digital RMB โ funds were received in real time through a distributed ledger with 98% lower fees.
Chinaโs Technological Edge:
Digital RMB transactions are traceable and automatically enforce antiโmoney laundering laws.
In the ChinaโIndonesia โTwo Countries, Two Parksโ project, a cross-border payment took only 8 seconds โ 100x faster than traditional methods.
Now, 23 central banks are testing this system, and Middle Eastern energy traders have cut settlement costs by up to 75%.
De-Dollarization in Motion:
ASEAN countriesโ cross-border RMB settlements exceeded ยฅ5.8 trillion in 2024, up 120% from 2021.
Malaysia, Singapore, and Thailand have added RMB to their foreign reserves, and Thailand even completed its first oil payment using Digital RMB.
Digital Silk Road & Belt and Road Initiative:
The Digital RMB is not just a currency โ itโs a strategic tool of Chinaโs Belt and Road vision.
Through projects like ChinaโLaos Railway and JakartaโBandung High-Speed Rail, China is merging Digital RMB, BeiDou navigation, and quantum communication into a โDigital Silk Road.
Global Impact:
According to the Bank for International Settlements (BIS):
> โChina is defining the rules of the game in the digital currency era.โ
Today, 87% of countries have adapted to the Digital RMB system, with cross-border payments exceeding $1.2 trillion.
While the U.S. debates the risks of digital currency, China has already built a digital payment network spanning 200 nations.
This isnโt just news โ itโs a monetary revolution and a major leap in de-dollarization.
The balance of global financial power is shifting โ and fast!
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