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China’s Digital Yuan Challenges SWIFT Dominance with 7-Second Cross-Border Payments
China’s Digital Yuan Challenges SWIFT Dominance with 7-Second Cross-Border Payments
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China’s digital yuan is transforming global finance with cross-border transactions settling in just seven seconds—a direct challenge to the SWIFT system’s decades-long hegemony. The central bank digital currency (CBDC) has already established connections with 16 countries across Southeast Asia and the Middle East, potentially rerouting 38% of global trade away from dollar-denominated settlements.
The e-CNY’s speed and cost efficiency mark a seismic shift in international payments infrastructure. Where traditional systems rely on correspondent banking networks, China’s blockchain-based solution offers near-instant finality. This technological leap coincides with growing de-dollarization efforts among emerging economies.
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