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Isn't SWIFT a European payment system already?
by saubeidl 1y ago
Isn't SWIFT a European payment system already?
- arielcostas 1y agoSWIFT is a communication layer, but banks still settle money via separate channels. Plus in many instances, international transfers may end up going through a US entity because of the USD's huge liquidity and volumes for FX exchanges; plus the largest banks being USAmerican.