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[BUSINESS] · Singapore, Philippines, Thailand, India, Malaysia · 5 sources

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Singapore leads Asian real-time payment link coverage

real-time payments cross-border payments QR code interoperability Project Nexus George Town Accord

Singapore leads Asian markets in the coverage of national real-time payment links at 28%, according to a report by FXC Intelligence titled ‘The New Era Of Asia’s Cross-Border Payments’. The Philippines follows at 26%, with Thailand at 23%, India at 21%, and Malaysia at 20%.

Regional efforts are increasingly focused on connecting domestic payment systems across borders through bilateral corridors, such as those between Singapore and India or Thailand and Malaysia. Project Nexus aims to expand this through a multilateral payment network linking India, Malaysia, the Philippines, Singapore, and Thailand, with an initial operational phase expected later this year.

Additionally, Indonesia, the Philippines, Vietnam, Singapore, and Malaysia have established a 50-year roadmap under the George Town Accord to standardize cross-border payment frameworks. While QR code coverage is expected to rise, China currently holds the highest positive assessment of QR code coverage at 80%, followed by Singapore at 74% and India at 73%.

Entities

FXC Intelligence · Project Nexus

Sources

Visa: 46% na Ásia-Pacífico preveem usar stablecoin em 5 anos [www.letsmoney.com.br]
Visa survey: APAC stablecoin interest growing for payments [logisticsnews.ph]
Nearly Half of Asia Pacific Consumers Open to Using Stablecoins in the Next Five Years, Visa Study Finds [desitalkchicago.com]
Singapore leads Asia real-time payment links at 28% [asianbusinessreview.com]
Singapore leads Asia real-time payment links at 28% [asianbankingandfinance.net]