Subproject C05 — Financial Infrastructures and Geo-economic Security
3. funding stage (2022-2025)
Access to international payment systems is a hot issue in current geopolitics, as national economies can be greatly damaged by being excluded from them. Most important payment infrastructures, such as the SWIFT system, operate from the U.S., hence increasing the latter’s geopolitical leverage. In response, projects of alternative international payments have been developing, in particular, in the European Union, Russia and mainland China. These projects are based on close, yet at times also tense, collaborations between political institutions, central banks (as traditional actors in international financial infrastructures) and commercial Fintech enterprises, working on technical solutions. In sub-project C05 we investigate those collaborations and the ways that they make emerge new understandings of political security and geopolitical power in economic terms.