Why Losing SWIFT Matters

The Society for Worldwide Interbank Financial Telecommunication or SWIFT provides financial messaging services to some 11,000 banks around the world.

It is not a company, but rather a cooperative organization that arose to replace an outdated technology. Its powerful network has made it a crucial part of the global financial system.

The Wikipedia page on this organization is quite comprehensive. So we have to go deeper. In this video, I want to write about SWIFT's unusual place in the financial world and what it means to lose access to it.


Links:
The Asianometry Newsletter: https://asianometry.com
Patreon:   / asianometry  
The Podcast: https://anchor.fm/asianometry
Twitter:   / asianometry