CPMI launches plan to boost cross-border payments
Policy report envisages public-private partnership to break down obstacles to global payment flows
The Basel-based Committee on Payments and Market Infrastructures launched a wide-ranging plan to improve the global payments network on July 13.
In its report to the G20, the CPMI acknowledges “long-standing frictions” in cross-border payments. Some observers see proposals for global stablecoins, such as Facebook’s libra project, as having been a spur to action.
Speaking to reporters, CPMI chair and Bank of England deputy governor Jon Cunliffe said alternatives to the traditional payment
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