Multiple countries promote local currency settlement: the global financial system embraces diversification

2025-12-31 10:20:16

【CryptoWorld】The global financial system is quietly undergoing changes. Several emerging economies are pushing forward an ambitious plan to significantly increase the use of their own currencies in international trade settlements. Official data shows that approximately 90% of cross-border transactions between these countries are settled in their own or friendly currencies, forming a stark contrast to the traditional dollar-centric payment model.

The logic behind this shift is straightforward: to establish diversified payment channels. Decision-makers promoting this plan believe that the current Western-dominated financial system has structural flaws and is easily used to exert economic pressure. Therefore, countries are actively creating conditions to make their own currencies the primary settlement tools in mutual trade.

The latest cross-border payment initiative further advances this vision—building a parallel international settlement system based on local currencies. Although this process is challenging and requires coordination across multiple dimensions such as payment infrastructure, exchange rate stability, and credit systems, all parties are actively promoting it. This effort marks a shift in the global financial landscape from a single center toward multipolarity, with profound implications for cross-border commerce, digital asset circulation, and international financial innovation.

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GasFeeCrybaby

· 2h ago

Dollar hegemony is finally going to loosen up; it was about time to play it this way Can de-dollarization really happen? It seems easy to say 90% of transactions in local currency? Where does this data come from? Needs verification Diversified payments sound good, but I'm worried it might just become a new form of centralization Stablecoins are about to become popular; who will cover the volatility of the local currency? Thinking about it, the SWIFT system needs an upgrade Emerging economies banding together for mutual support—this move could either succeed or completely backfire Infrastructure can't keep up; just shouting slogans won't help Parallel systems? Probably just creating new frictions If the exchange rate issue isn't resolved, everything else is pointless; the difficulty is too high At this pace, will on-chain settlement directly take the lead?

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fork_in_the_road

· 2025-12-31 10:50

90% done? How long will it take to truly land? --- Will the dollar hegemony end? I don't think so; infrastructure is the real weakness. --- Finally, someone dares to challenge the US dollar's dominance. --- Multi-currency settlement sounds great, but who will ensure exchange rate stability? --- Is this the so-called "parallel financial system"? Why do I find it hard to believe? --- It's about time to break the US dollar monopoly; it's the turn for other currencies to step up. --- Is this good news for mainstream coins, or just a game at the national level? --- It feels like this news is discussed every year; where's the progress? --- It's interesting, but there's still a long way to go with the technical protocols. --- Is the Western-led system about to loosen? I'm a bit hopeful.

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CodeZeroBasis

· 2025-12-31 10:50

Is the US dollar hegemony about to loosen? This time it's for real. 90% of transactions settled in local currency... Thinking about it, it's indeed a bit harsh. The move away from the dollar is inevitable sooner or later. Multipolar payment system? Nice words, but essentially it's still about resisting the unipolar system. Infrastructure can't keep up; there's still a long way to go before it really materializes. By the way, if this really happens, will our currency also rise along with it? Building a parallel system sounds easy, but the actual implementation is quite challenging... No more to say.

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CryptoSurvivor

· 2025-12-31 10:45

90%? Is this data real, or just another pie-in-the-sky projection... Are the US dollars really panicking this time?

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CryingOldWallet

· 2025-12-31 10:40

90% local currency settlement? Now the US dollar is really going to panic --- Basically, countries are starting to play their own games and no longer be held hostage --- Diversified payments sound great, but how to ensure exchange rate stability? --- Finally, someone dares to challenge the US dollar hegemony. I'm following this story --- Parallel settlement systems? Another covert battle begins --- It should have been like this a long time ago. Why must all trade use the US dollar? --- That 90% figure sounds fierce, but how much can it actually be implemented? --- The Western financial system indeed hides knives; switching currencies is inevitable --- Haha, this is true decentralization, not the kind in the crypto circle --- Infrastructure issues are the main point; just talking without action will only lead to failure

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MEVSandwichMaker

· 2025-12-31 10:36

The dominance of the US dollar is finally beginning to loosen; it should have happened a long time ago.

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LayerHopper

· 2025-12-31 10:23

Dollar dominance is finally loosening, it was long overdue This move is indeed aggressive, with 90% of native currency settlements bypassing the dollar directly Multipolarity is the way to go, monopoly has lasted too long and needs to be broken Honestly, this is definitely a positive for crypto, diversifying risk Can the infrastructure keep up, or is it just another half-baked plan?

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