Project Nexus project
Overview
The Bank for International Settlements Innovation Hub has advanced Project Nexus, an initiative designed to connect domestic instant payment systems for cross-border transactions via a hub-and-spoke architecture. Under this model, each participating system links to a central network rather than establishing numerous bilateral connections. In July 2024, the BIS and its collaborators finalised a detailed blueprint and transitioned the project toward live deployment—marking the first BIS Innovation Hub payments project to reach this stage. Central banks and instant payment system operators from India, Malaysia, the Philippines, Singapore and Thailand are progressing toward implementation, with Bank Indonesia participating as a special observer. The interconnection of instant payment systems is identified as a priority action within the G20 roadmap for improving cross-border payments.
Within The Counterparty graph, Project Nexus connects to 3 tracked entities, most strongly to BIS Innovation Hub, Monetary Authority of Singapore, Bank Negara Malaysia.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 3 of 3 total).
| Relation | Connected entity | Confidence |
|---|---|---|
launched | BIS Innovation Hub | 99% |
partnered_with | Monetary Authority of Singapore | 99% |
partnered_with | Bank Negara Malaysia | 98% |
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.
Questions on the record
What problem does Project Nexus solve?
Bilateral connections between the world's many domestic instant payment systems would require an impractical number of links; Nexus offers a standardised hub-and-spoke connection, allowing each system to integrate once.
Which countries are taking Nexus towards live implementation?
India, Malaysia, the Philippines, Singapore and Thailand; Bank Indonesia participates as a special observer.