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BRICS member China officially rolled out a plan to promote its own payment system to replace SWIFT. The Communist country aims to reduce US dollar dependency to confront Washington’s aggressive stance on trade and tariffs. The new plan was jointly released by the Shanghai municipal government and the People’s Bank of China, the country’s central bank. Also Read: BRICS: India Plays ‘Double Game’ With the US Dollar? The new payment system from BRICS member China will incorporate the Chinese yuan through the Cross-Border Interbank Payment System (CIPS). China wants to leverage its dominance in the manufacturing and trade sector and push the Chinese yuan for settlements. Also Read: Illinois Analyst Predicts If BRICS Currency Can Replace the US Dollar BRICS: China Will Take on SWIFT Through CIPS Payment System Source: silkroadbriefing.com The BRICS country China revealed that it will “enhance the functionality” of CIPS and challenge the Western-dominated SWIFT payment system. “...

As Bitcoin skyrockets, surpassing $57,000 and reaching a two-year pinnacle, meme coins are enjoying a resurgence in the cryptocurrency market. These digital tokens, often linked with internet culture and humor, are attracting significant investor interest amid the blockchain industry’s rapid expansion. FLOKI, PEPE, and WIF are three coins that have captured the attention of many. Surge of Meme Tokens Following Bitcoin’s surge, meme tokens within Ethereum and Solana ecosystems, such as PEPE and WIF, are witnessing notable rallies. FLOKI, a well-established meme coin, is making strides, signaling a broader market trend. Investors are flocking to meme coins as they see them as a way to invest in the growth potential of blockchain networks. With decentralized applications (DApps) gaining traction and blockchain technology becoming increasingly prevalent across various sectors, meme coins serve as speculative assets intertwined with the broader narrative of blockchain advance...

Swift  and Chainlink have moved tokenized value successfully between numerous private and public blockchains. According to their official press release, “The findings have the potential to remove significant friction slowing the growth of tokenized asset markets and enable them to scale globally as they mature.” To evaluate their interactions with blockchain networks, both firms revealed in June that they would work with several financial firms. These firms include BNP Paribas, BNY Mellon, The Depository Trust & Clearing Corporation, Lloyds Banking Group, and others. Also Read: Visa is Being Investigated By US DOJ Over Tokenization Additionally, to connect with the various blockchains, Swift used Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This protocol went live in July of this year and aims to help build cross-chain applications and services. Furthermore, Chainlink co-founder Sergey Nazarov said that the project “could connect all of the ...