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1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Monday, 28-Feb-2022 17:34:40 EST lnxw48a1
   The other thing about SWIFT is that Russia, China, and a few other countries have already made clear their desire to build their own interbank payment system. I don't know that they are able to build a house in a storm, but if they already laid the groundwork, this could push the 'go live' button.
   1. GeniusMusing (geniusmusing@nu.federati.net)'s status on Monday, 28-Feb-2022 19:59:58 EST GeniusMusing

      in reply to
      @lnxw48a1
      They already have their own system as does China, not as widely adopted.
      
      SPFS Wikipedia
      https://en.wikipedia.org/wiki/SPFS
      
      >The first transaction on the SPFS network involving a non-bank enterprise was executed in December 2017.[3] In March 2018, over 400 institutions (mostly banks) were part of the network.
      
      Cross-Border Interbank Payment System Wikipedia
      https://en.wikipedia.org/wiki/Cross-Border_Interbank_Payment_System
      
      >The Cross-Border Interbank Payment System (CIPS) is a payment system which offers clearing and settlement services for its participants in cross-border RMB payments and trade. It is a significant financial market infrastructure in China. CIPS is sometimes referred to as the China Interbank Payment System.
      
      Related:
      Crypto Exchanges Consider Ukraine's Call To Freeze Russians' Bitcoin Slashdot
      https://nu.federati.net/url/285142
      1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Monday, 28-Feb-2022 23:30:42 EST lnxw48a1

         in reply to
         #TIL: SPFS and CIPS