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BRICS: BlackRock Secretly Prepares for US Dollar Collapse
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With the BRICS bloc actively seeking the demise of the US dollar, one trillion dollar asset manager in the US is secretly preparing for the greenback’s collapse. Indeed, BlackRock may be looking to protect itself and its clients with a new investment fund it has created. The $9 trillion asset manager recently launched a fund to back a new crypto stablecoin created by Ethena Labs, UStb.
Last week, the Ethena stablecoin developers said that BlackRock established a tokenized fund for the new stablecoin. The asset manager has been a strong proponent of cryptocurrencies such as Bitcoin, calling BTC a “safe haven” against global financial disasters. One of the biggest global threats to the US dollar is BRICS: the bloc consisting of numerous nations opposing the US dollar’s dominance. The bloc promotes de-dollarization and has begun executing trades with other nations without the greenback involved.
BlackRock’s UStb Stablecoin To Hedge Against US Dollar?
The UStb stablecoin will be backed by BlackRock’s tokenized BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which offers a stable value of $1 per token. UStb will be a separate fiat stablecoin product alongside Ethena’s USDe (USDE), a synthetic dollar stablecoin the developer launched in February.
Meanwhile, the BRICS alliance is giving hope to developing countries that want to break away from the clutches of the US dollar. Emerging economies are facing challenges from carrying the burden of the US dollar on their backs. It appears that not only is the US dollar falling outside of the US: but inside the US doubts are growing around the asset’s future.
Also Read: BRICS Currency Threatens US Dollar Dominance in Oil & Global Banking
BlackRock has been one of the leaders in crypto advancement amongst asset managers in the country. The move to back a stablecoin may inspire other companies like Grayscale and VanEck to do the same. Therefore, tokenized finance may grow more popular in the coming years, putting the US dollar in jeopardy. This may not seem possible in the eyes of the US, but the BRICS bloc will surely benefit from this internal hurdle for the US greenback.
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BRICS: BlackRock Secretly Prepares for US Dollar Collapse
Share:
With the BRICS bloc actively seeking the demise of the US dollar, one trillion dollar asset manager in the US is secretly preparing for the greenback’s collapse. Indeed, BlackRock may be looking to protect itself and its clients with a new investment fund it has created. The $9 trillion asset manager recently launched a fund to back a new crypto stablecoin created by Ethena Labs, UStb.
Last week, the Ethena stablecoin developers said that BlackRock established a tokenized fund for the new stablecoin. The asset manager has been a strong proponent of cryptocurrencies such as Bitcoin, calling BTC a “safe haven” against global financial disasters. One of the biggest global threats to the US dollar is BRICS: the bloc consisting of numerous nations opposing the US dollar’s dominance. The bloc promotes de-dollarization and has begun executing trades with other nations without the greenback involved.
BlackRock’s UStb Stablecoin To Hedge Against US Dollar?
The UStb stablecoin will be backed by BlackRock’s tokenized BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which offers a stable value of $1 per token. UStb will be a separate fiat stablecoin product alongside Ethena’s USDe (USDE), a synthetic dollar stablecoin the developer launched in February.
Meanwhile, the BRICS alliance is giving hope to developing countries that want to break away from the clutches of the US dollar. Emerging economies are facing challenges from carrying the burden of the US dollar on their backs. It appears that not only is the US dollar falling outside of the US: but inside the US doubts are growing around the asset’s future.
Also Read: BRICS Currency Threatens US Dollar Dominance in Oil & Global Banking
BlackRock has been one of the leaders in crypto advancement amongst asset managers in the country. The move to back a stablecoin may inspire other companies like Grayscale and VanEck to do the same. Therefore, tokenized finance may grow more popular in the coming years, putting the US dollar in jeopardy. This may not seem possible in the eyes of the US, but the BRICS bloc will surely benefit from this internal hurdle for the US greenback.
In This News
Coins
$ 88.31K
+0.41%$ 0.0000455
$ 0.000571
$ 1.09
$ 0.000161
Share:
In This News
Coins
$ 88.31K
+0.41%$ 0.0000455
$ 0.000571
$ 1.09
$ 0.000161
Share:
Read More
Spot ETH ETFs Suffer Seventh Straight Day of Net Outflows: $75.4M Bleeds Out