As expected it drew some media attention, with the familiar theme that the renminbi—which surpassed the Japanese yen to become the fourth-most traded currency in the world in August, according to ...

The U.S. and Europe moved to cut many Russian banks out of the SWIFT global payments system. These sanctions make it harder for Russia to participate in and profit from the global economy. But they ...

The prospect of China’s Cross-Border Interbank Payment System vying with or supplanting Swift grabbed attention in the wake of Russia’s invasion of Ukraine. But CIPS isn’t ready for the big time. It ...

HONG KONG/FRANKFURT, March 31 (Reuters) - China's launch of its international payment system (CIPS) this the year should end the monopoly that China's yuan clearing banks enjoy, giving foreign banks a ...

BEIJING, July 30 (Reuters) - Chinese banks may have to rely on the country's homegrown payment system for cross-border transactions if the U.S. imposes sanctions on lenders who serve officials ...

CIPS, which has been undergoing testing among 20 banks, will feature clearer communication standards in both Chinese and English, and more importantly perhaps, it will adopt the new ISO 20022 ...

Brazil took steps to make it easier to transact with China in yuan, a sign of its growing trade and investment ties with the world’s second-largest economy. Banco BOCOM BBM, which provides banking ...