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About CHIPS

CHIPS is the largest private sector USD clearing system in the world, clearing and settling $1.5 trillion in domestic and international payments per day.

CHIPS provides fast and final payments and the most efficient liquidity savings mechanism available today. Its patented algorithm matches and nets payments resulting in an extremely efficient clearing process.

This large value payment system has approximately 50 direct participants and is the private-sector counterpart to Fedwire.

How it works