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Remittance Siege on Russia Expanding Outside of SWIFT

Remittance services that do not go through the international payment network, the Society for Worldwide Interbank Financial Telecommunications (SWIFT), have begun to participate in the financial encirclement of Russia. On the 28th, Wise (formerly TransferWise), a major international money transfer service provider, stopped handling money transfers to Russia. The aftermath of the decision by the U.S., Europe, and Japan to shut Russia out of SWIFT has spread to services in the fintech sector.

Nihon Keizai Shimbun