Russia's 25 Companies Reconnect to SWIFT, Signaling Shift to CBDCs
Despite international sanctions, Russia's reconnection of 25 companies to the SWIFT network signals a shift towards central bank digital currencies. The digital yuan, China's state-run CBDC, is now accessible in several regions worldwide.
Following the 2022 Ukraine conflict, several Russian banks, including Sberbank and VTB, were disconnected from the SWIFT system due to sanctions. This led to the use of Russia's domestic Financial Messaging System for internal transfers. However, 25 unidentified Russian companies managed to reconnect to SWIFT post-February 2022.
Boris Titov, a Russian official, sees this as a sign of a gradual shift in international settlements towards central bank digital currencies (CBDCs). Meanwhile, China's digital payment platform, operating on the digital yuan, is now available in ASEAN nations, the Middle East, Russia, and other CIS countries. The digital yuan system processed a turnover exceeding $90 billion in 2025.
The reconnection of 25 Russian companies to SWIFT, along with the expanding reach of the digital yuan, indicates a potential shift in global financial landscapes. As CBDCs gain traction, international settlement systems may evolve, reflecting the changing dynamics of global finance.
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