Abstract: The global economic order is undergoing a fundamental transformation as multicurrency mercantilism challenges the long-standing dominance of the U.S. dollar and Western-led financial institutions. Driven by the weaponization of economic and financial tools such as sanctions and tariffs, US Federal Reserve’s monetary policy instability, and the strategic pursuit of economic sovereignty, nations—particularly within the BRICS bloc—are advancing de-dollarization through alternative payment systems, local currency trade agreements, and digital financial infrastructures. This shift diminishes reliance on SWIFT and dollar-centric mechanisms, fostering a more multipolar financial landscape.

The move toward a multipolar monetary system—marked by regional financial integration, central bank digital currencies (CBDCs), and alternative payment infrastructures—signals a fundamental restructuring of global economic power. While diversification may enhance resilience against U.S. financial coercion, it also introduces risks such as currency volatility and fragmented liquidity. The geopolitical implications are profound, as parallel financial ecosystems reduce exposure to Western sanctions and reshape economic alliances. Although the dollar retains structural advantages, its unchallenged supremacy is waning, compelling the U.S. to reassess its economic diplomacy. The future of global finance hinges on whether the international community embraces cooperative multilateralism or accelerates fragmentation.

This article examines de-dollarization’s geopolitical and economic implications, analyzing its potential to reshape international finance, reduce US economic leverage, and redefine global trade dynamics. The findings suggest that while the US dollar’s global reserve status remains intact for now, the increasing adoption of multicurrency trade and financial networks could herald a more decentralized and resilient international monetary system.

Keywords: De-dollarization, BRICS Pay, financial sovereignty, multicurrency mercantilism, and global financial architecture.