You are here
India, four Southeast Asia countries plan instant retail cross-border payments
By Jaspreet Kalra
Reuters
via Yahoo Finance, Sunnyvale, California
Monday, July 1, 2024
https://finance.yahoo.com/news/india-four-se-asia-countries-082944639.html
MUMBAI -- The central banks of India, Malaysia, Thailand, Singapore, and the Philippines are working together to start an instant cross-border retail payments platform by 2026, the Bank of International Settlements said today.
The BIS, dubbed the central bankers' central bank, said it aims to link each country's instant digital payment system -- like India's United Payment Interface (UPI) and Singapore's PayNow -- as part of Project Nexus, its initiative to enhance cross-border payments.
... Dispatch continues below ...
... ADVERTISEMENT ...
Bullion Star Opens in the U.S., Selling and Vaulting Gold and Silver
Bullion Star is now open in the United States, offering gold and silver bullion at extremely competitive prices with free delivery. Bullion Star also offers customers a year of free vault storage along with free delivery as well as storage in its secure precious metals vault in Dallas, Texas.
Storing precious metals is challenging. Homeowner's insurance seldom covers precious metals, and safe deposit boxes offered by banks are neither insured nor covered by the government deposit insurance. Bullion Star's vault is an independently run, Class III UL-rated vault with uncompromising surveillance and round-the-clock security.
With Bullion Star you can transact and store your metals securely and confidentially. Your bullion is fully insured against all risks at full replacement value. Bullion Star uses five audit methods to verify the existence and correctness of your stored bullion.
For more information, please visit:
India and the other four countries will be the founding members of the platform, while Indonesia will serve as a special observer, the BIS said.
"Even with just the first wave of connected countries, Nexus has the potential to connect a market of 1.7 billion people globally, allowing them to make instant payments to each other easily and cheaply," Agustín Carstens, general manager of the BIS, said in a statement.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
