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CIPS

Could China's payments system be a SWIFT workaround for Russia?

by David Brancaccio , Erika Soderstrom and Alex Schroeder
Mar 1, 2022
China's system is known as the Cross-Border Interbank Payments System, or CIPS for short.
China's CIPS interbank payments system is seen as a possible avenue for Russia after it was cut off from the more widely used SWIFT system.
ISAAC LAWRENCE/AFP via Getty Images
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