Nexus Overview
Enabling instant cross-border payments
We have temporarily withdrawn the Nexus technical docs on this site while we prepare for a major update. Please refer instead to:
The Nexus project page for latest updates to the project, and
The latest (2024) Nexus report for an overview of the scheme & governance, business model and technology architecture of Nexus.
More than 70 countries already have instant (or "fast") payment systems that allow people to send money to each other within seconds. However, sending money abroad is often still slow and expensive. Connecting these domestic payment systems internationally could improve the speed, cost and transparency of cross-border payments.
Nexus is designed to standardise the way that these systems connect to each other. Rather than a payment system operator building custom connections for every new country that it connects to, the operator can make one connection to the Nexus platform. This single connection allows a fast payments system to reach all other countries in the network. Nexus could significantly accelerate the growth of instant cross-border payments.
Read the latest (July 2024) Report
This overview report explains the benefits of linking IPSs to provide cross-border payments and how Nexus could accelerate the growth of instant cross-border payments. It describes the scheme & governance, business model and technology architecture for Nexus. It builds on a year-long collaboration with 5 central banks and their payment system operators.
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