Who said SWIFT was a monopoly?

Six European Countries Join INSTEX After Violent Suppression Of Iran Protests

The same system is now available to Russia, China as well.  Bitcoin can connect to INSTEX, via Iran.

Very simply, it's a barter system created by the French, the Germans and the Brits. So in any trade, money gets paid into the home country's account, and it doesn't cross the border in or out of Iran. There's also an office in Tehran, too.So the idea is this gets around the U.S.-dominated international trading system. So companies that want to do business in Iran, they have another avenue. It took more than a year to set this thing up. Nobody's ever done it before. And it's complicated. The Europeans announced last week that Instex is up and running, and the first trade is expected soon.

It is only barter in the sense that money stays within the border, and each INTEX nation maintains security of the foreign account.  So when Finland sells Iran a machine, Iran pays into the INTEX account on its home territory. There is nothing stopping Finland from swaping their Iran money for yuan within the INSTEX account in Iran.

In effect, Iran becomes the alternative banking capital of the world but the religious psychos in Iran have few math skills and cannot see the opportunity.  It is like Zuck trying to make Libra compatible with SWIFT. Why bother? The digital system Zuck can build is much more efficient then SWIFT and Zuck can just dump SWIFT entirely, users needing only to swap into SWIFT for tax time until it is tax time.

SWIFT is and will continue to lose relative market share, Trump will freak out in panic and we get Trump Shock. But with all the alternative currency systems and the new TOE we can easily get through a Trump shock after one or two years, no problem.

Robinhood pulls bank charter application as fintechs face hurdles to disrupting financial system

Right here. Why not open a bank charter in Iran under the INSTEX system? They get all the same power without having to worry bout regulatory issues with a bankrupt American government.

Why not? Because Persian religious psychotics are dumber than shit and do not understand banking. But Robinhood should at least give it a try, test the system. I know a bunch of Persians, they are not all dumber than turnips and there is a chance a clue has arrived in Iran.

Russia has a similar problem in using INTEX, Putin and his habit of assassination as a ledger protocol, it is not compatible with accurate banking. Sort of illustrates a point, the new banking must be entirely separate from government. China has a similar problem, ultimately Commie Rats steal from the banks so transaction costs are high from the start because of Commie insurance.