Suche
Mein Konto
SCO grabs the reins: dollar dominance shakes through new payment platform!
The SCO is developing a payment system to break the dominance of the US dollar. BRICS alliance included.
SCO grabs the reins: dollar dominance shakes through new payment platform!
Revolution in the financial system! The Shanghai Cooperation Organization (SCO) is attacking the dollar's dominance. In a bold move, the SCO wants to develop its own payment system that will shake up the US dollar. A bang after no significant announcement was made at the 2024 BRICS summit. But now the SCO is pulling the strings! On the table is the vision of strengthening local currencies and breaking dollar dependence, as watcher.guru reports.
SCO Secretary General Zhang Ming revealed that infrastructure talks are underway - and BRICS is on board! This development comes as the Bank for International Settlements could sideline the mBridge project, which was crucial to the BRICS de-dollarization effort. The BRICS alliance has been fighting against dollar hegemony for years. Now the SCO appears to be the beacon of hope for a system that targets the dollar. “Work on a unified payment system is progressing,” Ming explained, leaving no doubt that the Global South is challenging Western dominance – but the curtain is not yet being folded.