Tag: #China’s Cross-border Interbank Payment System (CIPS)

Payments linkage by China, Russia and India can challenge SWIFT hegemony

Chu Daye November 01, 2019

Payments linkage by China, Russia and India can challenge SWIFT hegemony

Beijing. An alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) global payment system, which is being drawn up by China, Russia and India, has a fair chance to end the dominance of the US dollar in the global financial sector, Chinese analysts said Tuesday. Russian news...More