Will Payment Innovations Transform the International Monetary System?

2026

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This paper analyzes how new payment technologies, particularly instant payment systems and stablecoins, are poised to reshape the international monetary system and the dollar's role within it.

* Examines the impact of instant payment systems on cross-border transactions and the potential for a multipolar monetary system.
* Investigates the role of stablecoins, especially dollar-backed ones, and their potential to reinforce dollar dominance.
* Discusses regional strategies, geopolitical factors, and the development of central bank digital currencies (CBDCs) as drivers of change.

Tags: Payment systems, International monetary system, Stablecoins, Dollar, CBDC

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