China and Russia have their own Swift-like systems, and while neither is likely to displace Swift tomorrow, sanctions will propel efforts to strengthen and expand them. Might the banning of a raft of ...

INSIDE SIBOS 2015 China’s International Payments System, or CIPS, is near its rollout, according to the latest information from the People’s Bank of China. Although CIPS has been delayed before, the ...

In the first phase of China's new international payments system, banks are taking a cautious approach to the cost of bringing on the technology. The system, called CIPS, launched last week with 19 ...

Ever since early 2022, the Chinese yuan has been increasingly stocked up by central banks and enterprises of various countries as an alternative payment currency to the US dollar. The strength of the ...

Developing nations are reconsidering their reliance on the USD for trade settlement and as a reserve asset due to sanctions and the perceived weaponization of SWIFT. The devaluation of currencies in ...