currencies – DIGIT INFO

Stablecoins now 43% of Sub-Saharan Africa crypto tx volume: Chainalysis

DIGIT — Wed, 02 Oct 2024 12:16:24 +0000

Nigeria and Ethiopia have both experienced local currency devaluation which has driven stablecoin adoption.

Russia Pushes for Sustainable BRICS Interbank Networks and Payment Systems

DIGIT — Tue, 24 Sep 2024 11:20:19 +0000

Russia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national currencies in BRICS trade, as part of a strategy to reduce dependence on Western financial institutions. These efforts have gained attention during Russia’s BRICS presidency, […]

Go to Source

Swift Unveils Plan to Integrate Digital Assets and Currencies Into Global Payment Network

DIGIT — Sun, 15 Sep 2024 00:46:08 +0000

Swift has unveiled a plan to enable the movement of digital assets and currencies on its global payment network. The initiative aims to integrate regulated digital currencies into Swift’s platform, building on past experiments. “We’re paving the way towards real-world solutions that will enable our members to access and transact with regulated digital assets and […]

Go to Source

Asian Currencies Hit 19-Month Low: Devere CEO Predicts Continued Weakness

DIGIT — Fri, 28 Jun 2024 03:11:41 +0000

Asian currencies have reached their lowest levels in over 19 months as the U.S. dollar strengthens, driven by expectations of prolonged elevated U.S. interest rates. The Bloomberg Asia Dollar Index fell by 0.1% on Thursday, marking its lowest point since November 2022. Significant declines in the Philippine peso, Indian rupee, and South Korean won are […]

Go to Source

Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says

DIGIT — Sat, 06 May 2023 14:19:59 +0000

Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat also discussed the similar initiative within BRICS. Sergey Lavrov Convinced SCO Countries Will Switch to National Currencies, Won’t […]

Go to Source

BRICS to Promote National Currencies Before Issuing Common One

DIGIT — Mon, 01 May 2023 06:19:56 +0000

The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of […]

Go to Source

World’s Largest Regional Organization to Switch to Settlements in National Currencies

DIGIT — Fri, 28 Apr 2023 22:00:42 +0000

A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies The […]

Go to Source

BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says

DIGIT — Thu, 27 Apr 2023 09:30:44 +0000

Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a whole, the Russian politician said. Ruble, Yuan, Other BRICS Currencies to Take Over […]

Go to Source

Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

DIGIT — Thu, 13 Apr 2023 17:30:05 +0000

According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their trade on the dollar?” Brazil’s President Wants to Reduce the […]

Go to Source

China Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says

DIGIT — Wed, 05 Apr 2023 14:00:23 +0000

An idea to establish an Asian Monetary Fund has caught the attention of the Chinese leadership, the head of the Malaysian government revealed. The prime minister believes there is no reason for his country, which is hurting from a strong U.S. dollar, to remain dependent on the greenback. Malaysia Prepares to Trade With China in […]

Go to Source