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India is advancing efforts to establish cross-border payment linkages with multiple countries, as reported by Bloomberg, citing an official from the Reserve Bank of India (RBI). India’s initiatives are also closely tied to its exploration of central bank digitalcurrencies (CBDCs). T Rabi Sankar Deputy Governor T.
James Hurren explores what early CBDC deployments across Asia, the Caribbean, and Europe reveal about usage, adoption, and the future of cross-borderdigital money. Central bank digitalcurrencies (CBDCs) have rapidly evolved from theoretical concepts into live pilots and national deployments.
MAS is expanding its Global Layer One (GL1) initiative to support cross-border transactions of tokenised assets. Access to a common settlement facility is also being facilitated through the SGD Testnet, featuring S$ wholesale central bank digitalcurrency (CBDC) for market testing.
Indonesia has reached a significant milestone in its journey toward exploring the potential of Central Bank DigitalCurrencies (CBDCs) with the completion of the Proof of Concept (PoC) for the wholesale Digital Rupiah under the auspices of Bank Indonesias Project Garuda.
Regional integration is playing a key role, with governments accelerating their efforts to enhance cross-border commerce and digital economy participation. The initiative seeks to establish multilateral linkages of national retail payment systems. Technological advancements are another driver of open finance in Southeast Asia.
It highlights how industry leaders are prioritising AI, cross-border payments, and digitalcurrencies while grappling with regulatory, technological, and customer demands. Cross-border payments remain the second most significant opportunity, cited by 11% of industry professionals. Why is it important?
A key feature on its way to mobile wallets is support for card networks and domestic bank transfer networks alongside international cross-border payment rails. This enhanced connectivity allows users to move funds effortlessly across payment methods and national borders, streamlining transactions for individuals and businesses alike.
Phase two – foundational infrastructure MAS also plans to develop an ecosystem of market infrastructures to facilitate seamless cross-border transactions. In 2023, the central bank launched the Global Layer One (GL1) initiative, to help develop foundational digital infrastructures, on which it could deploy commercial networks.
Central Bank DigitalCurrency (CBDC - Digital Rupee): Policy: RBI is actively piloting both wholesale and retail versions of the Digital Rupee (e₹). For instance, CBDC could be programmed for specific uses (e.g., Future Vision: Seamless, real-time, and cost-effective cross-border payments are a key focus.
While transaction fees and fraud prevention dominate immediate merchant concerns, forward-thinking businesses are leveraging payment method diversity, cross-border capabilities, and emerging technologies to gain measurable advantages.
Digitalcurrency systems could prove to be key in improving financial inclusion and opening up new opportunities to large underbanked communities in many African countries. The UDPN aims to drive down payment and foreign exchange costs whilst accelerating the uptake of regulated digitalcurrencies.
According to the official press release, Western will leverage its technological development and its deep history in the cross-border remittance industry. Following this announcement, the collaboration aims to support fast and efficient money movement between Canada and 200 countries and territories around the world.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News NITMX partners with Mastercard to power Thailand's PromptPay Friday 20 June 2025 14:29 CET | News Thailand-based National ITMX has extended its collaboration with Mastercard to support Southeast Asia’s (..)
Backed by the Australian Securities and Investments Commission (ASIC) , the Australian Prudential Regulation Authority (APRA) and the Australian Treasury, the project is led by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC).
Tokenized Sustainability Credits: Corporates can settle parts of cross-border payments with on-chain carbon tokens or biodiversity credits, automating offset procurement during reconciliation. They can embed ESG tags in ISO 20022 MX messages to enable seamless cross-border sustainability tracking.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Unzer rolls out with Wero from EPI Tuesday 17 June 2025 13:22 CET | News Unzer , a payment platform for SMEs in Germany, Austria, and beyond, has partnered with the European Payments Initiative (EPI).
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News ADZ Worldline Payment Solutions launches Pay by Link Tuesday 17 June 2025 14:43 CET | News AZN Worldline Payment Solutions has launched Worldline Pay by Link, a secure and convenient way to take payments online (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Mastercard teams up with enza to support fintech advancement in Africa Friday 20 June 2025 07:59 CET | News Mastercard has entered into a strategic collaboration with enza , a payment solutions company, to (..)
A recent pilot conducted under the HKMA ’s e-HKD+ initiative has tested the feasibility of using digitalcurrencies for cross-border investment transactions.
The primary goal of this partnership is to support cross-border transactions and digital asset operations for enterprise clients. The company’s platform supports embedded financial services, including account provisioning, FX, and domestic and cross-border payments.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News ConnectPay partners with InSoil for EU expansion Monday 16 June 2025 15:48 CET | News Green finance firm InSoil has partnered with fintech provider ConnectPay to integrate embedded payment infrastructure into (..)
Digital wallets are expanding faster than financial oversight can keep up, forcing governments to scramble for new safeguards without choking innovation. The European PSD2 framework, growing pressure on big techs financial ambitions, and central bank digitalcurrency (CBDC) discussions all indicate a looming regulatory crackdown.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Float partners with Adumo for improved in-store payments Monday 23 June 2025 14:46 CET | News SA fintechs Float has announced its partnership with Adumo in order to offer flexible and secure in-store payments (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Spreedly integrates Just-In-Time Card Updates for Visa Cards Friday 20 June 2025 12:33 CET | News Spreedly has upgraded its platform by integrating Just-In-Time Card Updates for Visa Cards supported by Visa (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Bitget Wallet rolls out national QR payment support, goes live in Vietnam Tuesday 17 June 2025 14:37 CET | News Non-custodial crypto wallet Bitget Wallet has rolled out national QR payment support as part (..)
There is increasing demand for faster, safer, and cheaper payment opportunities as cross-border trade activity escalates. CBDCs are more relevant than ever According to the report, “More than 90% of central banks are pursuing or considering central bank digitalcurrency (CBDC) projects, and more than 30 have rolled out pilots.”
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Payabli raises USD 28 mln to expand embedded payments and AI tools Friday 20 June 2025 12:28 CET | News Payments infrastructure platform Payabli has closed a USD 28 million Series B funding round, bringing (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Mollie rolls out the Tap payment terminal Thursday 19 June 2025 13:11 CET | News Mollie , a European financial provider, has announced the launch of Tap, its payment terminal designed to meet the needs of (..)
Another contested point is the exclusion of credit rating agencies from the regulations scope, which fintech actors argue would impair cross-border access to relevant data for personal finance management tools.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News U.S. Bank and Fiserv launch integrated Agent Card Issuance solution Monday 16 June 2025 14:15 CET | News U.S. Bank and Fiserv have partnered to integrate U.S.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Stake launches Pay to Card to speed up real estate payouts Tuesday 17 June 2025 15:13 CET | News Stake , a digital platform focused on global real estate investment, has introduced a new withdrawal option (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Walmart and Amazon explore Stablecoins for payments Monday 16 June 2025 14:58 CET | News Walmart and Amazon have been reportedly examining the feasibility of launching their own stablecoins as an alternative (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Wollette to launch WollettePay for one-tap Open Banking Thursday 19 June 2025 16:02 CET | News Wollette , a UK-based technology firm, has announced the upcoming launch of WollettePay, a new account-to-account (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Salt Edge partners with Tuum and LHV Bank Thursday 19 June 2025 13:34 CET | News Salt Edge has announced its partnership with Tuum and LHV Bank , aiming to accelerate development through secure Open Banking (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Fabrick finalises acquisition of finAPI Wednesday 18 June 2025 13:55 CET | News Italy-based Fabrick has announced the finalisation of its acquisition of 75% of finAPI from SCHUFA Holdings AG.
Across the EU, operational resilience, real-time payments, and the steady rollout of the Markets in Crypto-Assets Regulation (MiCA) are redefining compliance baselines for digital finance. Globally, preparations for central bank digitalcurrencies and evolving open finance frameworks signal longer-term structural change.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News RS2 partners with Visa to optimise global payment processing Wednesday 25 June 2025 09:07 CET | News Global payments technology provider RS2 has partnered with Visa to offer an end-to-end acceptance infrastructure (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Nauru establishes a crypto asset regulator Monday 23 June 2025 15:45 CET | News The Government of Nauru has enacted legislation creating a regulatory body to oversee activities involving digital assets.
Momentum for digitalcurrencies tied to fiat value has grown following recent legislative developments in the United States, including the passage of the GENIUS Act by the Senate.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Mastercard sandbox allows UK financial institutions to test payment methods Wednesday 25 June 2025 15:16 CET | News Mastercard has launched an A2A instant payments sandbox, enabling UK financial institutions (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Revolut launches AI-driven financial assistant Wednesday 18 June 2025 13:20 CET | News Revolut has planned to launch its own AI-driven financial assistant, according to the fintech’s representatives.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Open Banking in Canada faces legislative delays Wednesday 18 June 2025 15:00 CET | News The Canadian Federal Government has indicated that legislation to fully implement Open Banking will be introduced at (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Ramp raises USD 200 million in a Series E funding round Wednesday 18 June 2025 10:14 CET | News Ramp has raised USD 200 million in a Series E funding round led by Founders Fund, bringing its total valuation (..)
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | CrossBorder Ecommerce Research | Company Database | Events News Ecommpay integrates Visa Instalment Wednesday 25 June 2025 12:06 CET | News Global payments platform Ecommpay has integrated Visa Instalments, partnering with Visa in order to offer the service to its merchant (..)
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