While geopolitical turmoil dominates headlines, a slower-burning revolution is taking shape in global finance. Asia Sentinel reports that China’s international digital currency platform, Project mBridge, is “quietly setting out to attempt to shape a revolution in the world’s financial payment system by seeking to erode the global dominance of the US dollar.” The project is building an international payment infrastructure that analysts say is steadily shifting global payment patterns — a development that takes on added urgency as the Middle East crisis exposes the vulnerabilities of dollar-dependent energy trade.
China’s Digital Yuan: A Quiet Revolution in Global Payments
