Project Nexus: Connecting Countries’ Instant Payment Systems

PaymentsBy: Mehdi Mansour Samaei2 min readSource: BIS
Project Nexus: Connecting Countries’ Instant Payment Systems

1Introduction

Many countries have domestic instant payments, but bilateral links are costly and slow. Project Nexus proposes that each system connects once to a common network to reach all participating countries.

2Discussion

The goal is cross-border payments almost as easy as domestic ones: fast, with transparent fees and the exchange rate shown upfront.

3Conclusion

After its experimental phase, Nexus is moving towards implementation with several Asian central banks. It supports the G20 roadmap goals for cheaper, faster cross-border payments.

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Sources

  1. BIS Innovation Hub — Project Nexus ↗
همفکران فناوری شریفThis article summarises the official sources cited, prepared by the Hamfekran Fanavari Sharif team for finance leaders.
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