Chinese Yuan Passes Australian, Canadian, Hong Kong Dollars in International Use

A new report by SWIFT shows that the Chinese Yuan (RMB) rising in use for international payments compared to a number of other nationally issued currencies. This surge highlights the constant instability suffered by users of fiat currencies as the increased internationalization of the RMB makes it more difficult for the users of other alternative national currencies to market their chosen value token to new users. The RMB is presently the fifth most popular national currency for payments usage behind the United States dollar, the Euro, the Pound which was formerly Sterling, and the Japanese Yen. The Yen is particularly vulnerable to losing adoption and popularity versus the RMB as it is only 0.52% more popular as of the time covered by this SWIFT report.

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