Chen Tian Universe

Jul 10, 2025 · Operations

How the World Handles Payments: A Deep Dive into Global Clearing Systems

This article explores the architecture of global payment clearing, detailing the roles of SWIFT, CLS, and national systems across China, Hong Kong, the United States, Europe, the UK, Japan, Singapore, Korea, Russia, Australia, Mexico, Brazil, and the emerging multilateral CBDC bridge mBridge, illustrating how payments flow and settle worldwide.