Cross-border payments - The past, the present, and the future we envisage

Cross-border payments are the backbone of global trade and financial flows, yet they continue to face significant frictions, including inefficiencies, high costs, and complex regulatory landscapes. Central banks and financial institutions have been exploring various approaches to deliver public goods —bilateral, regional, and multilateral initiatives— to improve speed, cost, accessibility, transparency and resilience. By sharing lessons learned, key challenges, and past strategies, Part A of this roundtable will be an opportunity for discussants to take stock of key developments in cross border payments and importantly provide an opportunity to draw out key lessons and insights from the past and present evolution of cross border payments. 
 
Building on these insights, Part B will focus on the opportunities for transformation to explore the what is next. The discussion will explore how private sector innovation and public-private collaboration can enhance cross-border payment systems, with a particular emphasis on the opportunities that the newly minted Nexus global hub brings as it comes into live operations. Key areas of exploration include emerging use cases, commercial models, industry partnerships, and technological advancements. A core consideration will be the long-term sustainability of these solutions—ensuring that improvements are scalable, inclusive, and resilient in an increasingly interconnected financial ecosystem. 

This roundtable is designed to generate tangible insights that contribute to the evolution of cross-border payments. A detailed roundtable report will be prepared, capturing key discussion points, lessons learned, and emerging recommendations. This document will serve as a resource for participants and industry stakeholders, supporting future iterations and potential scaling of innovative solutions in this space.