World Economy
0

SWIFT Alternative Launched

SWIFT Alternative LaunchedSWIFT Alternative Launched

The Central Bank of Russia has launched a new SWIFT-style payment service aimed at moving away from Western financial dominance, RT reported. The system is already operating, and will be fully functional within six months. The regulator said the new service will allow credit institutions to transmit messages in a SWIFT format through CBR to all Russia’s regions without restrictions.

 

Financialtribune.com