Swift

CIPS vs SWIFT | China's Cross-Border Payments Network Is Replacing Dollar Rails in War Zones as Petroyuan Goes Live at Hormuz

At least two confirmed yuan payments for Strait of Hormuz transit tolls had cleared through CIPS-linked banks by late March 2026, providing the first live proof-of-concept for China's campaign to normalize RMB settlement at geopolitically sensitive trade chokepoints

Jack Brennan · Apr 26, 2026