Russia's two largest unsanctioned metal producers have begun using Tether's USDT stablecoin for cross-border transactions with Chinese clients and suppliers. Russian commodities firms struggling to execute financial transactions with Chinese counterparts have started tapping a new method for settling deals — stablecoins. China's Cross-Border Transactions are now mostly in RMB for the first time. China's holdings of US treasuries is dipping to all-time lows. So much for the BRICs currency. End of the petro-dollar imminent.
China is de-dollarizing and fast. Two important trends. 1. China's Cross-Border Transactions are now mostly in rmb for the first time 2. Chinas holdings of US treasuries is dipping to all time lows. End of the petro-dollar imminent. https://t.co/BunrwmenXZ
Russian Firms Turn to Crypto for China Commodities Trade Russian commodities firms struggling to execute financial transactions with Chinese counterparts have started tapping a new method for settling deals — stablecoins. At least two top metals producers, both of which are… https://t.co/lq2Sbw6Vc7
Russia and China commodity exporters are settling in US dollar backed stablecoins. So much for the BRICs currency. That never really had legs. https://t.co/MOxNuSWDcD
Russia's two largest unsanctioned metal producers have begun using Tether's USDT stablecoin for cross-border transactions with Chinese clients and suppliers https://t.co/PN8IGgk83W
Global demand for currency diversification is growing stronger amid negative spillover from #US Federal Reserve’s monetary policies to deal with its domestic economic recession. Over the long run, the #Chinese yuan is to compete with the US dollar and develop a substitute… https://t.co/xQAXqbZbeQ