© Reuters. SINGAPORE – The central banks of Indonesia and Singapore have officially launched a cross-border QR payment linkage, a major step forward in financial integration between the two Southeast Asian nations. This new system allows users to make retail transactions seamlessly across borders by scanning QR codes through mobile apps, specifically QRIS in Indonesia
© Reuters. The continuous devaluation of the Nigerian Naira, which recently peaked at N2,010 per CFA1000, has significantly disrupted cross-border trade and led to record high commodity prices. The situation has been particularly severe for traders dealing in rice and frozen poultry products at the Seme-Krake border in Lagos. The price of a 50kg bag
© Reuters. The People’s Bank of China (PBOC) announced plans on Friday to integrate its fintech regulatory tools with Hong Kong and Macao, aiming to fortify cross-border fintech applications. The announcement was made by Deputy Governor Zhang Qingsong at the HK FinTech Week. The initiative involves collaboration with the Hong Kong Monetary Authority (HKMA) and
China’s central bank digital currency (CBDC), known as e-CNY, has expanded its pilot to 26 locations, a move that has been under way since 2019. This was revealed during a forum in Beijing, where the former governor of China’s central bank, Zhou Xiaochuan, detailed the evolution and potential future direction of the digital currency. Zhou
