The End of SWIFT’s Monopoly? China Tees up Commercial Launch of Rival Digital Network

**Mbridge, now under Chinese leadership, would be preparing a commercial rollout with a Hong Kong-based entity to promote the blockchain-based digital yuan as a cheaper and easier alternative to SWIFT. The platform has already settled over 470 billion yuan, nearly $69 billion.** [Add us on Google](https://www.google.com/preferences/source?q=https%3A%2F%2Fnews.bitcoin.com%2F) WRITTEN BY [Sergio Goschenko](https://news.bitcoin.com/author/sergio/) SHARE