Standard Chartered Assesses BRICS’ Challenge to Dollar Dominance

The US dollar faces unprecedented scrutiny as BRICS nations accelerate de-dollarization efforts. Standard Chartered's geopolitical analysis highlights a structural shift: emerging economies are reducing reliance on the greenback amid weaponization concerns. Sanctions and SWIFT exclusions have catalyzed this movement, with Russia's isolation serving as a wake-up call for multipolar currency alliances.

Philippe Dauba-Pantanacce, Standard Chartered's Managing Director, notes the dollar's entrenched position makes full replacement unlikely—but its hegemony is no longer absolute. Developing nations now prioritize local currency settlements, with crypto assets like BTC, ETH, and XRP gaining traction as neutral intermediaries in cross-border trade.

Exchanges such as Binance and Coinbase report increased institutional interest in crypto-diversification strategies. Yet the dollar's liquidity and DEEP capital markets remain formidable barriers for BRICS alternatives.