African SMEs get the same level of service as large companies under a more open China. More global financial institutions are joining China’s cross-border interbank payment system amidst the ...

Meanwhile, knowing how the current system operates—and why it is still expensive—makes for good background reading for anyone ...

As the world’s financial landscape evolves, the need for efficient, secure, and globally connected payment systems has never been more pressing. China’s Cross-border Interbank Payment System (CIPS) is ...

HSBC Holdings Plc has become a direct participant in China’s cross-border interbank payment system as the world’s second largest economy pushes for greater use of the yuan. The UK lender, which counts ...

The financial sector is undergoing a transformation & stablecoins—digital currencies pegged to stable assets like fiat currencies are at the forefront.

In the long run, regional payment systems will not only improve the mechanics of cross-border trade but also catalyse broader economic growth. By facilitating access to affordable financial ...

On September 11, 2025, UnionPay International (UPI), in collaboration with its partners, announced the pilot launch of cross-border QR payment linkage between China and Indonesia under the guidance of ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation Many central banks are currently exploring the possibility of issuing retail central bank digital currency (CBDC). While ...

Thunes, the so-called "Smart Superhighway" to move money around the world, and Ripple have announced an expanded partnership.

The emergence of new regional payment systems likely won't spur de-dollarization, OMFIF said. So far, their infrastructure is weak and they are plagued by implementation challenges. A bigger ...

XRP ( XRP 0.63%) has advanced 725% in the last three years, with most of those gains coming in the last 12 months following ...