SWIFT inks JV with China's central bank

SWIFT inks JV with China's central bank

REUTERS/Petar Kujundzic

SWIFT, the global system for financial messaging and cross-border payments, has set up a joint venture with the Chinese central bank‘s digital currency research institute and clearing centre, a move some see as a sign that China wants to explore global use of its planned digital yuan.

Other shareholders of the Beijing-based venture include China’s Cross-border Interbank Payment System (CIPS) and the Payment & Clearing Association of China, both supervised by the People’s Bank of China (PBOC), according to public information.

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