The Society for Worldwide Interbank Financial Telecommunication (SWIFT), legally S.W.I.F.T. SC, is a Belgian cooperative society which provides a system for executing international financial transactions and payments between banks.
It has been used by the United States as a means punishing countries such as Iran which contravene the Western Liberal Order.
Alternative interbank payment systems such as Russia's SPFS and China's CIPS are facilitating dedollarization.[1][2][3]