Central Banking

Eurozone’s faster payments system to link with Singapore and Malaysia

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The payments systems of Singapore, Malaysia and the eurozone will be connected together in an experimental proof of concept run by the Bank of International Settlements.

In a speech given at the Singapore fintech festival, BIS general manager Agustín Carstens announced the project as the next step of the BIS’s Project Nexus.

“The BIS Innovation Hub will be working with the Monetary Authority of Singapore, the Bank of Italy and the Central Bank of Malaysia,” he said.

The idea behind Project

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