ASEAN+3 cross-border payments, regional connectivity, and way forward

2026

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This paper examines the evolving landscape of cross-border payment connectivity in the ASEAN+3 region, highlighting the need for enhanced regional integration and efficiency.

* Reviews the current architecture of cross-border payments and progress of bilateral and multilateral initiatives.
* Explores the emergence of tokenized money, including CBDCs and stablecoins, as new instruments for cross-border transactions.
* Identifies persistent challenges and proposes policy implications for advancing wholesale connectivity, interoperability, and local currency use.

Tags: ASEAN+3, cross-border payments, regional connectivity, CBDC, stablecoins

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