China Aims at the US Dollar, Launches Next Generation Digital Payment System
2026-08-05 19:18:10
According to CoinMeta, China is building a set of digital payment infrastructure specifically designed to facilitate cross-border trade, with the aim of not relying on the US dollar or traditional Western intermediary banks, including the SWIFT system. This new development is not only a technical upgrade of the existing infrastructure but also a clear step towards decoupling from the US dollar and achieving financial sovereignty. This move could potentially enable China to dominate the digital payment market in the coming years. The Financial Times reported that China will launch a digital currency project for commercial purposes, bringing it closer to the trading partners of the 'Belt and Road' initiative. Through the 'Belt and Road' initiative, China provides loans to developing countries for the construction of airports, seaports, highways, railways, and other infrastructure projects. The US dollar does not play a role in this initiative, which has led to the formation of an independent economic system.
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Source:Watcher.Guru
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