Singapore, Malaysia and Indonesia launch cross-border payment links
Indonesia and Singapore say they intend to set up local currency settlement framework in 2024
The Monetary Authority of Singapore (MAS) has set up new cross-border payments links with the central banks of Malaysia and Indonesia, it announced on November 17.
The Singaporean central bank has led a series of cross-border payments projects with Asian countries. It announced similar real-time payments links with Thailand in 2021, and with India in February.
The Singapore-Indonesia agreement means travellers from one country to the other can pay for purchases by scanning unified QR codes
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