š° Saudi Arabia Exits the Digital Payments System: Is This Not an Economic Issue but a Political Signal?
Saudi Arabia has suddenly pulled out of Chinaās digital currency payments platform, mBridge. On the surface, it seems like a technical or commercial dispute, but on closer inspection, itās just the tip of the iceberg in a geopolitical power struggle. China wants to use digital currency to build a global payments system. However, the Middle Eastāsuddenly turning against itāis home to the worldās largest oil supplier. This either happened under pressure or reflects other calculations, directly disrupting the pace of Chinaās financial map expansion.
Why Is This News Important?
As the worldās largest oil exporter, Saudi Arabiaās willingness to settle oil in renminbi has suddenly cooled. Behind this is a new round of competition among the US, China, and Russia in the Middle East. China wants to use digital currency to gain leverage over the dollar-based oil system, but Saudi Arabia abruptly changes courseāeither due to pressure from the United States or because it believes there are risks in platform governance. In any case, itās not purely a technical matter. This means Chinaās global expansion map for digital currency faces yet another reality-based obstacle; it canāt simply rely on technical advantages to overpower others.
Impact on the Market
There is no major direct impact on BTC/ETH, since this is not a central-bank-level digital currency crash. But in the long run, it suggests that global central bank digital currency (CBDC) alliances will be harder to maintain in a united front. The US may take the opportunity to strengthen SWIFTās influence in the Middle East, while Russia could accelerate the rollout of its own digital payment systems. In terms of capital flows, the Middle Eastās reliance on renminbi for oil transactions declines. In the short term, this puts pressure on renminbi assets, but in the long term it means the dollar system has effectively won another round.
š” This news affects the market mainly at the sentiment level, indicating an acceleration of fragmentation in global digital currency governance. If, in the future, G7 countries jointly resist Chinaās digital currency, this assessment would be invalid. What Iām watching is whether, if China turns to court Russia and Iran to trade oil using the digital yuan, that could boost ETH more than expected.
This article has no sponsorship from any project, and the author does not hold any of the assets mentioned
Source: CryptoBriefing
ā ļø Not investment advice; forecasts are for reference only
#Geopolitical Conflicts
#å°ē¼ęæę²» #ETH
Saudi Arabia has suddenly pulled out of Chinaās digital currency payments platform, mBridge. On the surface, it seems like a technical or commercial dispute, but on closer inspection, itās just the tip of the iceberg in a geopolitical power struggle. China wants to use digital currency to build a global payments system. However, the Middle Eastāsuddenly turning against itāis home to the worldās largest oil supplier. This either happened under pressure or reflects other calculations, directly disrupting the pace of Chinaās financial map expansion.
Why Is This News Important?
As the worldās largest oil exporter, Saudi Arabiaās willingness to settle oil in renminbi has suddenly cooled. Behind this is a new round of competition among the US, China, and Russia in the Middle East. China wants to use digital currency to gain leverage over the dollar-based oil system, but Saudi Arabia abruptly changes courseāeither due to pressure from the United States or because it believes there are risks in platform governance. In any case, itās not purely a technical matter. This means Chinaās global expansion map for digital currency faces yet another reality-based obstacle; it canāt simply rely on technical advantages to overpower others.
Impact on the Market
There is no major direct impact on BTC/ETH, since this is not a central-bank-level digital currency crash. But in the long run, it suggests that global central bank digital currency (CBDC) alliances will be harder to maintain in a united front. The US may take the opportunity to strengthen SWIFTās influence in the Middle East, while Russia could accelerate the rollout of its own digital payment systems. In terms of capital flows, the Middle Eastās reliance on renminbi for oil transactions declines. In the short term, this puts pressure on renminbi assets, but in the long term it means the dollar system has effectively won another round.
š” This news affects the market mainly at the sentiment level, indicating an acceleration of fragmentation in global digital currency governance. If, in the future, G7 countries jointly resist Chinaās digital currency, this assessment would be invalid. What Iām watching is whether, if China turns to court Russia and Iran to trade oil using the digital yuan, that could boost ETH more than expected.
This article has no sponsorship from any project, and the author does not hold any of the assets mentioned
Source: CryptoBriefing
ā ļø Not investment advice; forecasts are for reference only
#Geopolitical Conflicts
#å°ē¼ęæę²» #ETH
