De-dollarization is not a buzzword anymore. In 2025, de-dollarization is fueling multiple narratives, evolving into a full-fledged phenomenon, a force to reckon with. Years of constant US dollar weaponization and relentless sanctioning have led the world to unite forces to forge elements that can truly debase the USD, ending their dependence on the US dollar. 70+ countries have now vowed to end their reliance on the American currency while popularly making use of these three methods.

Also Read: J.P. Morgan: BRICS De-Dollarization Will Trigger US Borrowing Spike

How Are 70+ Countries Ditching the US Dollar?

1. By Strengthening Regional Payment Setups

Regional blocs like ASEAN have now formulated a new narrative, a style that promotes the establishment of sturdy regional payment setups. These centers are powered by connecting local/regional banks together, allowing the conduct of trade in simple local currency narratives.

“The central banks of the Philippines, Indonesia, Malaysia, Singapore, and Thailand have employed contactless QR code payment systems for goods and services between the countries, thus encouraging greater financial inclusion for consumers and MSMEs in the region. This also means a transaction in Thailand using an Indonesian app will be paid through a direct exchange between the rupiah and the baht—bypassing the US dollar as an intermediary. Once the connection linkages have been completed, the central banks will seek to connect with other clusters around the world. The QR digital payment system is expected to be implemented among ASEAN members by September 2023.” As mentioned in ASEAN briefing

The system is not limited to just ASEAN but is now being widely practiced by China and Russia in a move to robustly de-dollarize the narrative.

2. Trade In Local Currency

As waves of de-dollarization continue to strengthen, the global economies are now increasingly shifting towards a multipolar currency world. This order relies on using local currencies in sync with the US dollar, often bypassing the dollar to form global connections.

“Developing a multipolar international monetary system will help strengthen policy constraints on sovereign currency countries, enhance the resilience of the system, and better safeguard global financial stability,” China CBOC Governor Pan Gongsheng said via a Reuters report.

Countries such as India, China, Russia, and Brazil, as well as ASEAN nations, have consistently been rooting for a local currency narrative to bypass the USD hegemony.

3. Developing Independent Payment Systems Fueling De-Dollarization

Another popular method that has been gaining immense traction within the global regimes is building one’s own payment network/system. This includes BRICS efforts to work on launching its own currency system to counter the US dollar’s supremacy while promoting de-dollarization in all its glory.

“We are not refusing, not fighting the dollar. But if they don’t let us work with it, what can we do? We then have to look for other alternatives, which is happening.” Russian PM Vladimir Putin shared.

Also Read: When Did De-Dollarization Truly Begin to Bite? A Brief Timeline