BIS instant payments trial to move from ‘concept to reality’
India joins Project Nexus as it prepares for “live implementation”
The Bank for International Settlements (BIS) said its instant payments networking trial will move towards “live implementation”, with the Reserve Bank of India (RBI) becoming the latest participant.
Project Nexus has been developing a standard way for instant payment systems to connect to one another, with the aim of making cross-border payment links easier to establish.
The BIS said today (July 1) that the project, which has previously gone through proof-of-concept and trial stages, will be
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