De-Dollarization & Cryptos - Issue #414 May 4th, 2023

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The current global and economic financial crisis may lead to the end of the US dollar hegemony.

De-dollarization is not a recent story, but it seems that this process could now be accelerated by the decisions of US regulators and government.

De-dollarization is currently studied by professionals and economists, and even Janet Yellen, the US Secretary of the Treasury, addressed the topic publicly.

The same did Lavrov, the Russian Foreign Minister, who said that de-dollarization can’t be stopped now. The BRICS block is the leader of the process: Brazil, Russia, India, China and South Africa want to create a reserve with a global currency.

This, of course, raises questions about the role of cryptocurrencies – and it seems that Bitcoin might become the next hegemonic currency around the world.

This and much more in this number of FinTech Weekly – follow us to discover fintech news, events and insights.

Top Stories

    Sergey Lavrov, the Russian Foreign Minister, recently addressed the issue of de-dollarization. The mix of sanctions issued, along with the banking crisis, is putting at risk the supremacy of the US dollar. Digital currencies seem to be the solution – and many countries are already studying and using this solution to avoid further economic and financial problems.

    According to Lavrov, the US has to be blamed for this shift towards digital currencies and for the current global financial and economic crisis. Moreover, he assessed that de-dollarization can’t be stopped.

Top Events

    FinTech World Forum 2023 is based in London UK Europe as one of the leading fintech events 2023 for the global financial services, finance, and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Money, Crypto, Cryptocurrency, Digital, Innovation, Wallet, Pensions, Funds, Payment, Tech, Financial Services, Technology, Bank, Wealth Management, Insurtech, Regtech, and Wealthtech.

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