The rise of CBD as an alternative to the dollar system and its role in currency zones has prompted the development of the mBridge platform by China, Thailand, Hong Kong, and the UAE. This digital prototype aims to challenge the dominance of dollar payments in global finance, attracting attention and raising concerns among defenders of the current system. Working in collaboration with the Bank for International Settlements, the initiative is expected to produce a functional product by the end of the year. Moreover, the digital ruble is also expected to find a place within this evolving landscape.
