Additionally, the Dollar is utilised as the standard currency within the commodity market and therefore incorporates a direct effect on commodity prices. Dollarization on the USD Due to its international acceptance, some countries like Panama and Ecuador utilize the USD as an Formal legal tender, a practice called dollarization. https://financefeeds.com/bitgo-integrates-walletconnect-through-reown-to-enable-secure-institutional-access-to-defi/