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Russian SWIFT alternative getting traction in deal with Turkey

Russian SWIFT alternative getting traction in deal with Turkey

Bitcoin Reddit

Reddit / Bitcoin Reddit 29 Views

https://www.reuters.com/article/russia-turkey-forex/russia-turkey-agree-on-using-rouble-lira-in-mutual-settlements-idUSR4N26O04T

The US-controlled SWIFT settlement network has long enjoyed a monopoly on global transnational payments. US economic sanctions on foreign countries are mostly enforced by removing an entire nation's banks from the SWIFT network, effectively blacklisting them from mainstream US dollar global commerce.

Crypto is another obvious alternative to SWIFT.

submitted by /u/horsebadlyredrawn
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