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India, four SE Asia countries plan instant retail cross-border payments

By Economic Times - 4 months ago
Five central banks from India, Malaysia, Thailand, Singapore, and the Philippines collaborate on Project Nexus, a cross-border retail payments platform set to launch by 2026, facilitated by the Bank for International Settlements (BIS). Nexus will integrate digital payment systems like India’s UPI and Singapore’s PayNow, potentially linking 1.7 billion people globally.

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