Posted BY: Wyatt | NwoReport
A new global currency has just been launched by the international banking elite, but 99 percent of the global population has no idea what just happened.
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The DCMA, a globalist membership organization of sovereign states, central banks, commercial and retail banks, and other financial institutions, confirmed the launch of the international CBDC this week at the International Monetary Fund (IMF) Spring Meetings 2023.
According to the IMF, the CBDC is designed to “enforce banking regulations” and “monitor all transactions.”
The Universal Monetary Unit (UMU), also known as “Unicoin” and symbolized as Ü, can transact in any legal tender settlement currency and can be configured to operate according to the central banking regulations of each participating jurisdiction.
DCMA executive director Darrell Hubbard, and the “chief architect” of UMU, say UMU strengthens the international monetary system by helping the IMF achieve its stated mandate to provide economic and financial stability to its member states.
“UMU is a game-changer in how cross-border payments are transacted and mitigates against seasonal and systemic local currency depreciation,” Hubbard says.
What is Unicoin, and what are its implications?
Central bank digital currencies (CBDC) have been a hot topic this year. The European Central Bank is due to finish its investigation into a digital euro in October. This week, the Bank of England announced it is looking to grow its CBDC team for a potential ‘Bitcoin.’ Also, this week, Sweden has just published the third round of its pilot report for its own e-krona. Per Payments:
UMU is “legally a money commodity, can transact in any legal tender settlement currency, and functions like a CBDC to enforce banking regulations and to protect the financial integrity of the international banking system,” the DCMA said in a news release.
Banks can attach SWIFT codes and bank accounts to a UMU digital currency wallet and transact “SWIFT-like cross-border payments over digital currency rails,” a reference to the SWIFT payment system, per the release.
This allows users to bypass “the correspondent banking system at best-priced wholesale FX rates and with an instantaneous real-time settlement,” the release said.
