<p>Chinese payment-related stocks jumped on Monday as investors bet that the United States and Europe kicking Russia out of SWIFT would benefit China's cross-border payment system and accelerate digital currency development.</p>.<p>Ratcheting up sanctions following Russia's invasion of Ukraine, the United States and Europe said on Saturday they would banish big Russian banks from the main global payments system SWIFT and announced other measures to limit Moscow's use of a $630 billion war chest.</p>.<p>Shares of leading Chinese companies involved in developing payment infrastructure for the digital yuan, including Newland Digital Technology Co, Lakala Payment Co and Client Service International Inc rose strongly, despite weakness in the broader Chinese market.</p>.<p><strong>DH Deciphers | <a href="https://www.deccanherald.com/business/dh-deciphers-what-is-swift-will-cutting-off-russia-from-it-really-help-1085807.html" target="_blank">What is SWIFT? Will cutting off Russia from it really help?</a></strong></p>.<p>The SWIFT sanctions against Russia "is a milestone event that will accelerate the process of de-dollarisation," wrote Dang Congyu, analyst at Founder Securities.</p>.<p>"Although it's hard to replace SWIFT in the short term, this incident is very beneficial to yuan's globalisation over the long run."</p>.<p>The view was echoed by Guosheng Securities, who recommended Chinese payment-related stocks, citing the potential of China's own payment system, CIPS, and digital yuan, to break dollar's hegemony.</p>.<p>In the backdrop of global power competition, the digital yuan "will pay a key role in promoting yuan's global status, and its development will accelerate," analysts Liu Gaochang and Yang Ran wrote.</p>.<p>Other payment-related stocks that rose on Monday include XGI Inc, Guangdong Tecsun Science & Technology Co and Global Infotech Co.</p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>Chinese payment-related stocks jumped on Monday as investors bet that the United States and Europe kicking Russia out of SWIFT would benefit China's cross-border payment system and accelerate digital currency development.</p>.<p>Ratcheting up sanctions following Russia's invasion of Ukraine, the United States and Europe said on Saturday they would banish big Russian banks from the main global payments system SWIFT and announced other measures to limit Moscow's use of a $630 billion war chest.</p>.<p>Shares of leading Chinese companies involved in developing payment infrastructure for the digital yuan, including Newland Digital Technology Co, Lakala Payment Co and Client Service International Inc rose strongly, despite weakness in the broader Chinese market.</p>.<p><strong>DH Deciphers | <a href="https://www.deccanherald.com/business/dh-deciphers-what-is-swift-will-cutting-off-russia-from-it-really-help-1085807.html" target="_blank">What is SWIFT? Will cutting off Russia from it really help?</a></strong></p>.<p>The SWIFT sanctions against Russia "is a milestone event that will accelerate the process of de-dollarisation," wrote Dang Congyu, analyst at Founder Securities.</p>.<p>"Although it's hard to replace SWIFT in the short term, this incident is very beneficial to yuan's globalisation over the long run."</p>.<p>The view was echoed by Guosheng Securities, who recommended Chinese payment-related stocks, citing the potential of China's own payment system, CIPS, and digital yuan, to break dollar's hegemony.</p>.<p>In the backdrop of global power competition, the digital yuan "will pay a key role in promoting yuan's global status, and its development will accelerate," analysts Liu Gaochang and Yang Ran wrote.</p>.<p>Other payment-related stocks that rose on Monday include XGI Inc, Guangdong Tecsun Science & Technology Co and Global Infotech Co.</p>.<p><strong>Check out DH's latest videos:</strong></p>