this post was submitted on 26 Jul 2024
56 points (96.7% liked)

World News

32057 readers
736 users here now

News from around the world!

Rules:

founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 1 month ago (1 children)

You say that, but they have to get it right first go, and it's also the question of how it'll interact with SWIFT.

[–] [email protected] 2 points 1 month ago (1 children)

Does it dovetail with SWIFT? It really sounded like it's just a competing system.

[–] [email protected] 2 points 1 month ago

I don't know. The article quotes the Russian ambassador saying it needs to integrate with the banks and whatever systems are in place currently for each country, but that doesn't necessarily mean SWIFT as well. But even if it's a direct competitor, the possibility of future SWIFT integration has to be considered. I'd be surprised if they blanket never wanted it to happen.