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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. -
GeniusMusing (geniusmusing@nu.federati.net)'s status on Monday, 28-Feb-2022 19:59:58 EST GeniusMusing @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.
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