The world embarks on a new payment system to end dollarization of currency
6 min readThe escalating geopolitical strife, which is being stoked by Washington's new cold war, has prompted Russia, China, Iran, and an increasing number of other countries to strive to de-dollarize, or at the very least, to diversify their foreign reserve holdings.
Russia and China are now less dependent on the dollar in the settlement of international trade as a result of their mutual decision in 2019 to start using their currencies rather than the US dollar for cross-border corporate transactions
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