The region could see almost 37% of the total global payments landscape, interoperability, digital wallets and QR codes are all likely to help the market grow from $12.8tn in 2024.
Adnan Zaylan Mohamad Zahid, deputy governor at the Bank Negara Malaysia, told an audience at Money 20/20 Asia that Asean is innovating with cross-border payments, QR codes, Project Nexus, sandboxes and Islamic finance.
The so-called ‘BRICS Bridge’ project may have stalled, but efforts to undermine the primacy of the US dollar as the world’s reserve currency have received a boost from an unlikely source; although any path to a true alternative will be long and difficult.
Apr 21, 2025
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The bank's regional Apac co-head of trade finance has said he is leaving to take a break; Aditya Gahlaut, has started as regional head, Asia, global trade solutions, at HSBC; the bank has also made changes in its regional payment leadership team.
Jennifer Barker, global head of treasury services and depositary receipts at BNY, recently discussed cross-border and instant payments, collaboration, Swift, AI, trade finance, and more, with CT.
Retail sales and industrial output have beaten expectations for January and February, as China's leadership eyes 5% GDP growth again; meanwhile global suppliers are showing optimism for the year ahead, according to a survey.