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The global bank messaging system SWIFT is planning to launch a new Central Bank Digital Currency ( CBDC ). The SWIFT CBDC is a significant development in the changing financial landscape that’s looking to uproot the US dollar’s hegemony. The new digital ecosystem is currently in its nascent stage and could be launched in the next 12 to 24 months. The development puts the SWIFT CBDC in direct competition to challenge the yet-to-be-released BRICS currency. Also Read: Another New Country Expresses Interest To Join BRICS Alliance Nick Kerigan, SWIFT’s Head of Innovation confirmed that a new CBDC currency is on the cards. Therefore, the next two years could put the Western financial system on the course of recovery in a de-dollarized world. In two years, trades in the SWIFT system could be settled in CBDC currencies giving BRICS a reality check. The payment system is now being fine-tuned on the heels of BRICS planning to launch a new currency. Apart from SWIF...

Vivek Ramaswamy, an ally of former President Donald Trump and one-time Republican presidential candidate , labeled the prospective digital dollar — Central Bank Digital Currency (CBDC) — as a threat to individual liberty . Ramaswamy and Trump’s Stand Ramaswamy, who earlier this month suspended his 2024 Presidential campaign and endorsed Trump, shared his apprehensions about CBDC in an interview with Bloomberg. See below. Beyond his stance on CBDCs, Ramaswamy favors a substantial reduction in the scope and size of federal agencies such as the U.S. Securities and Exchange Commission (SEC). Ramaswamy’s advocacy extends to the crypto sphere, as seen in his December criticism of Gary Gensler, SEC Chairman, for what he perceives as ineffective crypto regulations. In contrast to the narrative linking Bitcoin and digital assets to criminal activities, Ramaswamy asserts that Bitcoin provides an alternative to America’s “broken financial architecture.” He argues...