BIS to trial Asian instant payments link
Project Nexus aims to create standardised cross-border link for different countries’ systems
Five central banks from South-east Asia will work with the Bank for the International Settlements to connect their instant payment systems (IPS) for cross-border payments.
The BIS said its network prototype, called Nexus, aims to create a standardised way to link different countries’ IPS. The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand will work with the BIS on the project.
They plan to set up a panel, consisting of central banks and payment system operators
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