An alternative to the dollar in trade relations
United Asian Token becomes a real alternative to the dollar
According to Deutsche Wirtschafts Nachrichten, China has launched the process of deDollarization, that is, abandoning the use of the U.S. dollar. Countries in the Asian region are gradually abandoning the U.S. currency in trade in favor of national currencies. The Asian region has launched dedollarization, planning to make cryptocurrencies a single reserve currency.
The use of the digital yuan in China has increased by 1,800% in the last year alone. According to the Central Bank of China, the volume of transactions using the digital yuan reached $13 billion by the end of 2021. At this point, more than 20 cities in China are involved in the test program in total. 72% of respondents said they have used the app to make online purchases. 67% of respondents have used it to pay for transportation services.
But the digital yuan will only grow in China, while UNAS unlocks its potential for most of Asia's progressive countries, with the so-called Asian Tigers quartet at the center of things. The Association of Southeast Asian Nations has developed a plan that builds on the activities of China, which has made incredible progress in abandoning the dollar. The governments of these countries enter into bilateral agreements only in national currencies. Japan and Indonesia, as well as Thailand, Malaysia, Indonesia and the Philippines, have already signed agreements to switch to such transactions in cross-border trade. Deutsche Wirtschafts Nachrichten Source adds that the Asian region expects to turn the new cryptocurrency into one of the most popular units of payment and make it a reserve global currency and a real alternative to the dollar.
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