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2 clusters · 4 sources · 3 days · First seen · Last updated

ASEAN cross-border payment and supply chain integration

Overview

Financial institutions and central banks in Southeast Asia are working to enhance cross-border payment networks to support digital commerce and real-time settlement. Regional central banks, such as Bank Negara Malaysia, are prioritizing interoperability to reduce the fees and currency risks inherent in traditional banking models.

As businesses in the region diversify supply chains to mitigate risks from US trade policy and tariffs, the demand for efficient financial infrastructure has increased. However, the rapid shift toward new trade corridors has outpaced existing systems. Reports indicate that high foreign exchange conversion costs and settlement delays result in an estimated annual loss of USD 2.5 billion in transaction value across Vietnam, Thailand, Malaysia, Indonesia, and the Philippines.

Entities

Payoneer · Bank Negara Malaysia · Economic Research Institute for ASEAN and East Asia · ASEAN · Singapore

Timeline

  1. 23 days ago

    [BUSINESS] 2 sources
    ASEAN businesses diversify supply chains amid trade uncertainty

    ASEAN firms are diversifying supply chains to navigate US trade uncertainty, but rapid expansion is causing an estimated USD 2.5 billion annual loss due to inadequate cross-border payment infrastructure.

  2. 26 days ago

    [BUSINESS] 2 sources
    Southeast Asian banks advance cross-border payments and investor education

    Southeast Asian banks are developing real-time cross-border payment networks, while Indonesian financial experts emphasize the need for improved investor education amid rising market access.

Sources

mpost.io · smehorizon.com · techbullion.com · thephilbiznews.com