Building the rails of tomorrow
Not long ago, sending money across borders meant long waits and hefty fees. A simple remittance could take several days to clear and cost more than 6% of the transaction amount. Today, in parts of Asean, the same transaction or retail payment can happen in seconds — often at a fraction of the cost.
This quiet revolution reflects two powerful forces: rapid digitalisation and deepening regional cooperation. For the Asean+3 economies — Asean members plus China, Japan, and Korea — the transformation of cross-border payments is more than a story of convenience. It is about reimaging the financial infrastructure that underpins regional integration. But with opportunity comes risk: the same innovations that speed up transactions could also test financial stability and monetary sovereignty.
