HomeDigit Newscentral bank 52 foreign organizations from 12 countries have joined the russian...

central bank 52 foreign organizations from 12 countries have joined the russian analogue of swift

The Central Bank of Russia has announced that 52 foreign organizations from 12 countries have joined its domestic alternative to SWIFT, the global financial messaging system. This development is part of Russia’s efforts to promote its own financial messaging system, known as the System for Transfer of Financial Messages (SPFS).

The move reflects a growing interest among international institutions to use SPFS for secure cross-border financial transactions, particularly in light of geopolitical tensions and sanctions limiting Russia’s access to SWIFT. The system is designed to ensure uninterrupted financial communication and to reduce dependency on Western-controlled financial infrastructure.