Exactly this — and what’s wild is Bitcoin doesn’t even get a mention, as if it hasn’t been quietly running an opt-in, borderless, censorship-resistant payments layer for 15 years.

Sure, it’s clunky, volatile, and misused. But name another network that isn’t owned, isn’t stoppable, and clears billions globally 24/7.

Sandbu’s piece hits the urgency but misses the shift: • Europe is a tenant in America’s payments architecture. • BRICS wants its own rails — not just to escape sanctions, but to assert monetary sovereignty. • Stablecoins may be the trojan horse here, quietly onboarding billions via USD-denominated wrappers while dollar stability lasts.

If the EU doesn’t build native infrastructure soon (i.e., something realer than the digital euro PR exercise), it won’t just be America calling the shots — Tether will.