A recent survey by the Swiss National Bank reveals a slight decline in mobile payment app usage over the past year, with cash remaining a popular payment method among Swiss consumers. The survey indicates that 30% of transactions were conducted using cash, reflecting a strong preference for physical currency.
The Chinese Ministry of Commerce announced that fees for crossing the Strait of Hormuz can now be paid in yuan, marking a significant step in promoting the currency as an international medium of exchange. This development opens new opportunities for Chinese companies and reflects the impact of geopolitical conflicts on capital flows.
Bloomberg reports that Euroclear, the Belgian financial services firm, has relaxed the rules governing payments related to frozen Russian securities. This decision may facilitate financial transactions associated with these assets amid ongoing sanctions against Russia.