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EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure Vulnerabilities

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The European Union (EU) is reportedly planning to reduce its reliance on the U.S. dollar-based financial system, after American sanctions on Iran exposed the vulnerabilities of the bloc’s financial infrastructure. According to officials, who are now determined to challenge the dollar’s supremacy, the renewed desire to boost the role of the euro currency is also … Read more

The US Dollar’s Share of Global Reserve Currencies Drops as Japanese Yen’s Share Increases

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The U.S. dollar’s dominant position as the reserve currency of choice may be in peril, as its share of global currencies held in reserves continues to decline. International Monetary Fund (IMF) data shows, the dollar’s share of reserves dropped from 66% in Q3 of 2014 to just above 60% in Q3 of 2020. This means … Read more

Spanish Municipality Creates Its Own Cryptocurrency to Boost Economy Hurt by Coronavirus Crisis

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A municipality in the province of Sevilla, Spain, has launched its own cryptocurrency, which aims to encourage residents and merchants to arrange transactions with it in the midst of the coronavirus-driven economic impact. Spain’s Sevilla Municipality Launches ‘Elio’ Cryptocurrency to Boost Local Economy According to Europa Press, the City Council of Lebrija created “Elio,” a … Read more

EURST Stablecoin – The Cost of Answering the Call of the Economic Times

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The technological developments brought about by the invention of blockchain, bitcoin, and cryptocurrencies are rapidly transforming the financial landscape with the nascent industry failing to fit any conventional classification to become an asset class of its own. Stablecoins Are the Solution Tumultuous as it was in its journey towards the mainstream, the digital currency industry … Read more

EURST Stablecoin – Reinvention of the European Economy

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Over the years, we have been introduced to a digital transformation, which has created and shaped communities around the world. Digital technologies have introduced newly evolved ways of how the world interacts, operates, and most of all, conducts exchanges. In the current economic hardship and the Covid-19 global pandemic, the European Union has had to … Read more