China's share of global SWIFT payments declined to 2.85% in April, down from 3.1%, indicating a setback for RMB internationalization efforts. This matters for crypto as it underscores the dominance of established fiat systems and the slow pace of geopolitical shifts in global finance. While not directly impacting Bitcoin, the struggle of a major economy to de-dollarize highlights the potential long-term appeal of neutral, decentralized alternatives. What to watch next is how China responds to this trend and if it accelerates digital currency initiatives to bypass traditional rails.
This story reveals the enduring power of existing financial infrastructure despite geopolitical ambitions for de-dollarization. The slow pace of change in traditional finance suggests that any significant shift towards alternative global payment systems, including crypto, will be a long-term, gradual process. This maintains the dollar's strength and stablecoin relevance in the near term.
China's struggle to increase its global payment share highlights the resilience of existing financial systems and the challenges of RMB internationalization. The post China’s share of global SWIFT payments slips to 2.85% in April, down from 3.1% appeared first on Crypto Briefing.