Nexus is a BIS Innovation Hub project that seeks to enhance cross-border payments by connecting multiple domestic instant payment systems (IPS) globally. It is the first BIS Innovation Hub project in the payments area to move towards live implementation. BIS to play advisory role as Project Nexus sets up operational scheme and opens to potential new participants across the globe. BIS will facilitate central banks and IPS operators of India, Malaysia, the Philippines, Singapore and Thailand as they work towards live implementation in the next phase, with Bank of Indonesia as special observer.

This information was gathered from the Bank for International Settlements