
02:59
BIS head Carstens: China’s clearing and settlement service is no substitute for global Swift system
Chinese yuan playing ‘complementary’ role in interbank settlement, but CIPS won’t rival Swift, says global central bank boss
- China’s clearing and settlement service is no substitute for the global payment system Swift, says Agustin Carstens of Bank of International Settlements
- Digital central bank currencies will enhance efficiency but must be developed with care, while cryptocurrency is ‘not money’ and must be regulated, he says

02:59
BIS head Carstens: China’s clearing and settlement service is no substitute for global Swift system