Right, people here seem to think it's putting money into SWIFT or some alternative system. SWIFT doesn't hold or keep money, it just process them.

that's right, its a bank to bank messaging service. Significant mainly because its a monopoly but totally replicable, just no one has really had much reason to. Though US sanctioning targeted states has made more countries aware of the vulnerability. This episode will see a mushrooming of alts as each significant economy builds at least a failsafe - failure to do is would be gross dereliction of duty at this point