Matvienko predicts the end of SWIFT’s long-term monopoly in the near future

Moscow, April 12 – Federation Council Speaker Valentina Matvienko believes that with the development of new international settlement systems, including those based on PJSC Sberbank, SWIFT’s long-term monopoly in this market will finally be a thing of the past.

“The capabilities of our financial institutions, including Sberbank, can also be used to form a stable and secure system for international settlements,” the speaker said during a meeting of the chamber with the participation of the bank’s president, German Gref.

She noted that Sberbank is already dealing with this issue in detail. “We hope that SWIFT’s long-term monopoly in this market will finally be a thing of the past,” said Matvienko.