Riksbank Enables Immediate Cross-Currency Payments

News

From today, banks and other payment service providers can use a new service for immediate payments between different currencies. In the first phase, transfers between Swedish kronor, euros, and Danish kronor are enabled.

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Published

2026-06-09

In recent years, the Riksbank has implemented major changes to its payment system to facilitate banks and other payment service providers in conducting many and small payments between each other. Since last year, for example, all Swish payments go through the Riksbank's RIX-INST system. The system also makes it possible for banks and payment service providers to offer more fast payment services, if they so wish.

Now the Riksbank is taking the next step in development and implementing changes in the system that enable banks and other participants in RIX-INST to carry out immediate payments between different currencies. The new service is called TIPS Cross Currency and has been developed in cooperation between the ECB, the Riksbank, and Danmarks Nationalbank. In the first phase, it will therefore be possible to carry out transfers between Swedish kronor, Danish kronor, and euros.

The Riksbank welcomes participants who are interested in testing and using the service.

For more information, read more about the service on the Riksbank's website.