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China CBDC deal rumors have been circulating recently claiming a major expansion of the digital yuan to about 10 ASEAN and also 6 Middle Eastern countries. These somewhat alarming reports about China’s CBDC deal suggest an imminent shift in global payment systems, but is there actually any truth to them at this point in time? Also Read: De-Dollarization: 5 Oil Giants Now Settling in Yuan, Not USD How China’s CBDC Deal with ASEAN and Middle Eastern Countries Could Shape the Future of Digital Currency Source: Alamy The claimed China CBDC deal would certainly transform blockchain technology adoption across various regions, but actually examining the available facts right now reveals a somewhat different story about CBDC adoption in ASEAN and Middle Eastern countries than what’s being reported. The Facts Behind the China CBDC Reports Several reports about a China CBDC deal have mysteriously disappeared from their original sources, which is definitely worth noting. Ledger I...

The BRICS alliance is gaining the support of oil-rich Middle Eastern countries in its aggressive global push towards de-dollarization. The bloc inducted oil exporting nations like the UAE, Egypt, and Ethiopia during the 15th summit in South Africa. It also invited Saudi Arabia to join the group but the Kingdom is yet to officially decline the offer. Also Read: BRICS: Morgan Stanley Predicts the Future of the US Dollar As of 2024, the BRICS alliance controls nearly 30% of all the global oil supply. BRICS received a boost in the arms after it inducted oil-exporting countries into the alliance. It is now looking to take control of the oil and gas sector and push local currencies for cross-border transactions. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for oil trade. Also Read: BRICS: India Extends CBDC Payments to New Countries BRICS: Oil-Rich Bahrain Extends Support to the Alliance Source: Adobe Stock Oil-rich Middle Eastern country Bahrain ...