Central Banking

CPMI launches plan to boost cross-border payments

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The Basel-based Committee on Payments and Market Infrastructures launched a wide-ranging plan to improve the global payments network on July 13.

In its report to the G20, the CPMI acknowledges “long-standing frictions” in cross-border payments. Some observers see proposals for global stablecoins, such as Facebook’s libra project, as having been a spur to action.

Speaking to reporters, CPMI chair and Bank of England deputy governor Jon Cunliffe said alternatives to the traditional payment

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