BRICS: BlackRock Secretly Prepares for US Dollar Collapse

BlackRock

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.

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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About Stu Turley 4118 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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